Dreaming of retirement at 65?

Sixty-five years old has long been considered a pivotal age. For example, the Office of National Statistics splits the labour market into two main categories: aged 16 to 64 and aged 65 and over.

Some concessionary prices are based on having reached age 65, which is still widely thought of as the age when men receive their state pension.

However, 65 ceased to be the state pension age – for men and women – on 6 December 2018. It is now somewhere between four and five months beyond 65 years. By 6 October 2020, the state pension age will have reached 66. Five and a half years later another graduated change to increase it to 67 will begin, finishing in April 2028.

Coincidentally, those National Statistics on employment show that more than one in ten people aged 65 and over are in work and the numbers have been gradually but consistently increasing over the past 12 months.

If this year’s summer holiday makes you dream of retirement, don’t get ahead of yourself. You might well be working beyond 65.

Please get in touch if you would like to discuss your circumstances with one of our team of advisers.

 

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Past performance is not a reliable indicator of future performance.

Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.

COVID-19 - BUSINESS AS USUAL (WELL ALMOST!)The need for good financial advice has not gone away and we have worked hard to ensure that we can continue to provide advice during this challenging period. Indeed, rarely has the need for investment and retirement advice been more important in such turbulent economic circumstances. Whilst we adapted our approach due to the current restrictions, our team members are now back in the office. We continue to provide the usual high standards of service to our existing clients – as well as welcoming new enquiries. If you are looking for financial advice please use the “contact” link on our website or telephone 01246 559955 or email simon@shorts.uk.com