View more on these topics

‘Losing home is biggest fear in old age’

Half of people are seriously concerned that they could lose their home in old age, according to a global study by HSBC.

The survey found that people’s fear of losing their home (cited by 49 per cent of respondents) is an even greater concern than outliving their spouse (36 per cent) or even dying (30 per cent).

The Future of Retirement report warns that current levels of financial preparation for retirement are poor in the UK. Only 22 per cent of peo- ple approaching retirement have talked to an IFA and only 15 per cent to their bank.

HSBC says elderly people are increasingly expecting to live with their children, which could have a major impact on the UK housing market.

Across all age groups, an average of 9 per cent of people expect to move in with their children in later life although this figure rises to 15 per cent for 30 to 39-year-olds. But 56 per cent are concerned about being a burden to their children in old age and only 4 per cent believe that families should bear the cost of their parents’ retirement.

The research, which involved 966 British people over 18, found that consumers value independence and self-reliance but have a strong opposition to mandatory retirement.

However, lack of forward planning in later life could threaten this, says HSBC group head, retirement businesses, Steve Troop.

He says: “Retirement is seen by the majority as an opportunity for a new chapter in life but our research found that preparation is key. People need to make sure that they plan ahead to live the way they want to in their later years. Unless people think about their long-term needs, we will begin to see a vicious circle of generations that are financially dependant on family members during retirement.”


RLAM plans absolute fund

Royal London Asset Management plans to launch an absolute return bond fund aiming at Libor plus1 per cent in the second quarter of 2006. The fund is to be run by head of fixed interest Jon-athan Platt and his team. The RLAM income trust, which Platt runs with Sajiv Vaid, has ret-urned 40 per cent […]


F&C appoints new director in equities research

F&C Asset Management is recruiting Jennifer Byron to its UK equities team as associate director, equity research. Byron will focus on consumer staples such as beverages, food producers & processors, and tobacco. She joins from Bank of Ireland Asset Management where she was European equity manager. Byron will now report to F&C head of pan-European […]

Financial Express kicks off charity soccer tournament

Financial Express is gearing up for its second Soccer Sixes event to raise money for charity. This year’s tournament will be in aid of the National Society for the Prevention of Cruelty to Children. The previous tournament raised more than 10,000 for the Breast Cancer Campaign and was won by financial information provider Telekurs. Financial […]

Sub-prime ministering

It’s sub-prime time again as an FSA probe claims to show compliance shortcomings by brokers. Nicola York investigates the controversy-hit sector


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm