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<li>They will have to have plugs put halfway up walls</li> | <li>They will have to have plugs put halfway up walls</li> | ||
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| + | == From December last year == | ||
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| + | <div id="js-article-text" class="article-text wide"><h1>Men retiring today need ?35,000 more in savings to get the same income as five years ago</h1><p> By </p><p><span class="article-timestamp"><strong>PUBLISHED:</strong>16:25 GMT, 23 April 2013</span> <span class="article-timestamp"><strong>UPDATED:</strong>16:57 GMT, 23 April 2013</span></p><br><p><font style="font-size:1.2em;">A man approaching retirement needs to have a pension pot almost ?35,000 bigger than he would have done four years ago to achieve an income of ?5,000 a year, a report showed today.</font></p><p><font style="font-size:1.2em;">The Office for National Statistics (ONS) found that a single 65-year-old man has seen the level of savings he would need shoot up from around ?118,000 in 2009 to ?152,800 by March 2013. </font></p><p><font style="font-size: 1.2em;">From December last year, new gender equality rules came into place which mean that men can no longer be offered better annuity rates than women on the basis that men tend to have shorter lifespans.</font></p><p><font style="font-size:1.2em;">Annuity rates, which set the size of someone's retirement income for life, have been in general decline in recent years,christian louboutin sale, which some pensions analysts have put down to side-effects of the Bank of England's efforts to kick-start the economy,gucci outlet.</font></p><p><font style="font-size: 1.2em;">The ONS said that according to Money Advice Service figures, by March this year, a man or a woman would need to have ?152,800 put by to attain a ?5,000-a-year income.</font></p><p><font style="font-size: 1.2em;">Women have also seen the buying power of their pension pots eroded,gucci bags, although the decline has been slightly less severe,borse gucci. In 2009,chanel outlet, a woman would have needed ?133,500 saved up to buy a yearly income of ,louboutin sale?5,000, according to the ONS's Pension Trends research.</font></p><p><font style="font-size: 1.2em;">Women tended to be offered worse annuity rates than men until the new European 'gender neutral' rules came into force, meaning that insurers can no longer offer someone a different price on a range of policies and benefits, also including car insurance, based on their sex.</font></p><p><font style="font-size: 1.2em;">Financial information website Moneyfacts recently reported that men's pension annuity incomes plunged at the steepest rate in 14 years during 2012,christian louboutin uk, with an 11.5 per cent slide.</font></p><p><font style="font-size: 1.2em;">The ONS work also included startling analysis of retirement savings up and down the income scale. It found that the top ten per cent, by savings pots,gucci outlet online, of those households headed by someone between 50 and 64 held savings that were more that eight times the toital savings of those in the bottom five deciles combined.</font></p><p><font style="font-size:1.2em;">Rounds of quantitative easing (QE) to breathe new life into the economy have been blamed for plunging annuity rates.</font></p><p><font style="font-size:1.2em;">QE makes it cheaper for companies to borrow by pushing down the yield on government bonds, but annuity incomes are also based on these yields,louis vuitton outlet, meaning that new pensioners see their incomes reduced.</font></p><p><font style="font-size:1.2em;">Tom McPhail,christian louboutin sale, head of pensions research at Hargreaves Lansdown said it is vital that people shop around for the best annuity deal. He said: 'Many people's expectations of their retirement incomes will be based on historical experiences.</font></p><p><font style="font-size:1.2em;">'However with annuity rates at an all-time low, these expectations are likely to be over-optimistic.'</font></p><p><font style="font-size:1.2em;">The findings come during the Government's landmark pension reforms to encourage people to put away more for their later years.</font></p><p><font style="font-size:1.2em;">The Government's automatic enrolment programme will see up to 10million people eventually placed into workplace pension schemes.</font></p><p> </p> </div> | ||
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| + | <li>was also issue a court date</li> | ||
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| + | <li>almost formal. Tiger wanted to know about the bounce</li> | ||
</ul> | </ul> | ||
