Lending soars at Bank of Mum and Dad
The Bank of Mum and Dad has been branded as socially divisive and a symptom of Britain’s broken housing market as new figures reveal it is now one of the UK’s biggest mortgage lenders. Thousands of over-55s are generously gifting money as part of the Bank of Mum and Dad, using savings and even pensions to help their family onto the housing ladder, research has revealed.
Three quarters of UK employees say they won’t be able to retire by the age of 65
Britain is growing old, and not just proverbially. As the population is set to increase, the proportion of the population aged 85 and over is projected to double over the next 25 years, and the number of those working for longer rises with it. Recent figures reveal that nearly three quarters of UK employees say they won’t be able to retire by the age of 65.
Growing uncertainty over the future cost of care the main concern
Increasingly, we read and hear about how the Bank of Mum and Dad is being stretched to the limit, as children are making increasing calls on its limited resources. However, research shows that a quarter (24%) of over-55s are not planning to pass on any wealth in their lifetime over fears they could face crippling care costs in old age.
Nine out of ten employees continue to work even while being ill
Feeling ill? Well, staying at home would seem to be the sensible course of action. However, for many, going to work while sick has become the norm. Employers are seeing more staff turning up to work while ill, according to a new survey.
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