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NU probe shows retired people see new lease of working life as IFAs

One in five retired people are returning to work, including retraining as IFAs, according to research commissioned by Norwich Union.

Its survey of 777 people over the age of 50 in October found that two-thirds were opposed to a compulsory retirement age and more than half had no problems in finding work.

Bernard Tutte retired five years ago at the age of 54 after 30 years working for Sun Life.

He says he became bored and did not want to spend his retirement pottering around in his shed. He says: “Initially, I was happy playing golf but there is only so much golf a man can play.”

He took up a friend&#39s suggestion and became an IFA and now works for Planning and Investment in Basingstoke.

Barry Knight retired as managing director for Dupont in June but says he did not want to sit at home doing nothing. He is now retraining as an IFA.

Norwich Union press officer Ian Begg says: “Of those who have chosen to go back to some form of work, most have done so out of choice rather than necessity. It will be interesting to see whether those retiring 30 years from now find themselves in the same position.”



“Yes. It should reap economies of scale and it means we will all be singing from the same hymn sheet.” John Fleming, J Derry Fleming Insurance Consultants “It was as inevitable as night following day. There are economies of scale but the members are the last people to benefit.” Harris Frazer, Assured Benefits Consultants “My […]

Self-employed should get access to S2P – ABI

Enabling the 2.5 million self-employed workers access to the State Second Pension would close the savings gap by £2bn, according to consumer research from the ABI. The ABI survey showed fifty-one per cent of self-employed workers said they had lost confidence in their retirement saving compared with 39 per cent of employees. Only 1 per […]

AMP wants buyer for its 50% Virgin Money stake

AMP is looking for a buyer for its 50 per cent stake in Virgin Money and admits that Towry Law is worth £40m less than it thought as the fallout from the review of its beleaguered UK business continues.New group chief executive Andrew Mohl, who ordered the review of its UK operations, says he accepts […]

Confusion over retrospective rules

The article, Pledge to end retrospective rules regime, seems to be diametrically opposed to the news that Mr Davies is extending the “statute of limitation” rules for endowment complainants.Perhaps he does not understand what retrospective rules regime actually means.Perhaps he is trying to appease Ms McKechnie at the Consumers&#39 Association – plenty of hits but […]

DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]


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