Age UK has recently published a report of the Financial Services Commission regarding the financial resilience of people as they grow elderly. The report showed that people aged over 85 are in the fastest growing segment of the UK population and people aged over 65 provide a vital contribution to the economy, spending more than £121 billion a year.
However, although there has been a great decline in pensioner poverty, economic advances have also meant greater economic independence and economic uncertainty. For example, the current sustained period of low interest rates could not have been predicted and this is greatly affecting the planned finances of the aging population.
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