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UK: Home is pension for a third of retirees despite falling house prices

Posted on 29 September 2011

The stock market turmoil has had a devastating impact on the pensions of those who are approaching retirement. A report from insurer LV= shows that 36% of over-50s still working say they will need to delay their retirement for financial reasons, and 16% would rather not think about their retirement finances at all.
House prices have also been falling, but two million over 50s - a third of retirees - are now relying on equity in their home to supplement their retirement income. They have been dubbed he HIPpies generation (’Home is Pension’). The number is up from 1.5 million people in 2010……………………………………….Full Article: Source


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