Written by Karen Bryan
The My Money Podcast #17 is a follow up on my recent article asking should over 50s resign to free up jobs for the younger generation. Now, let’s say some people aged 50+ would like to get out at 50 and give up paid work (that would include me, aged 53); I can’t see many of us doing so unless we were guaranteed some level of income/pension. Although I have a stakeholder pension which I can access once I’m 55, I don’t envisage it giving me a pension of more than a couple of thousand pounds a year between low annuity rates and the fact that I’ll probably be drawing that pension for around 35 years, if I reach average life expectancy. My state pension’s not due to kick in until I’m 66. So I reckon it’s nose to the grindstone for the next few years for me.
Subscribe to My Money Podcast from Help Me To Save in iTunes.