Simple
changes in life expectancy are playing a major part here: ââ¬â in 1950 the average man spent 18% of his life in
retirement, today it is 33% and many of those years will be spent in ââ¬Ëactive
retirementââ¬â¢ – unrecognizable to our parents and certainly grandparents. In
fact, the very meaning of the word ââ¬Ëretirementââ¬â¢ is changing in the minds of
people ââ¬â increasingly this means ââ¬Ënot working (or only working part-time ââ¬â
because you choose to), enjoying a full and active life of travel, sports,
increased time with friends and familyââ¬â¢. Perhaps needless to say, but this
extra time requires a larger pension to fund ââ¬â one with greater certainty too.
And yet, 800,000 ââ¬Ëbaby boomersââ¬â¢ (born in the years
just after WWII), will pass the age of 65 by the end of 2012 ââ¬â putting massive
further pressure on the state funded pension scheme. The number of Britons over
65 will then rise from 17% to 23% in the next 23 years to 2034. Both ââ¬â¢30 and 40
somethingââ¬â¢s need to be aware that fundamental changes are coming in how
pensions are provisioned ââ¬â both through state enforced changes and private
necessity. SIPPs offer an empowered solution to those now savvy enough to take
control.
The SIPP Zone brings together a unique
gathering of pension ââ¬Ëwhistleblowersââ¬â¢ with free seminars and 1-2-1 advice at
Excel London 13th– 15th October.
For those that canââ¬â¢t make it to the event there is a handy
free guide to download from www.sippzone.info.