Black Country residents get advice over pensions black hole (From Stourbridge News)
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Black Country residents get advice over pensions black hole
1:11pm Tuesday 9th October 2012 in News
BLACK Country residents have been warned to count their pennies now or face a hard up life as a pension.
Despite the Government starting its automatic pension enrollment scheme at the end of October there is still expected to be a pensions black hole within minutes.
The latest statistics have shown that 40 per cent of over-50s have saved enough for a comfortable retirement but only seven per cent of under-50s have.
Alastair Clayton the producer of PMGTV’s new series How to plan for your retirement, said: “The under-50’s in the Black Country are now heavily reliant on their parents for financial support, with 2.9 million men and women under 35 still living with their parents, they have come to expect parental financial help from cradle to grave.
“The over 50’s might represent the most cash-rich end of society with the largest disposable income, but they shouldn’t be viewed as a solution to the country’s financial problems.”
How to plan for your retirement is on on SKY 191 and Freesat 400 on Tuesdays at 7:30pm and is repeated Sundays 6pm, for more information visit pmgtv.com.
