Tag Archives: saga

“You will probably die in debt!” says pensioner-focused finance company

One in seven over-70s still haven’t paid off their mortgages: Thousands being forced to use pensions to pay off remaining debt rather than enjoying retirement

Millions of pensioners are still paying off their mortgages well into retirement, a study found.

One in seven over 70s and a third of over 50s are still paying off a home loan – eating into their pension savings.

Britons older than 70 with an outstanding mortgage typically still owe £40,000, rising to £50,000 among the over 50s.

Source: Daily Mail, 16th September 2015

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Times are tough right now, and they don’t get less tough as you get older, according to this report. It seems a staggering number of septuagenarians are still paying off their pensions. If only they’d had help from a good financial planner, such as the one who paid for this PR:

Saga, which surveyed 1,500 older homeowners, said many were forced to ‘use their weekly pension to pay off what’s owed, instead of using it to enjoy their retirement’.

Saga indeed – in fact, the financial wing of Saga, who market themselves toward the older end of the market. Little surprise, then, to see them stoking up fears of fiscal instability… fears their own specialists can relieve:

Alex Edmans, at Saga Personal Finance, said: ‘Millions of older homeowners have found themselves abandoned by mortgage lenders and stuck in uncompetitive deals because of the unfair age restrictions that many lenders have in place.

‘If these people had access to a better deal they wouldn’t have to pay as much back each month which would leave them with more money to enjoy their retirement.’

‘For those in retirement struggling to meet their monthly mortgage costs it may be worth considering a lifetime mortgage to help ease the burden of the monthly repayments’, he said.

‘This may not be suitable for all, so it is well worth speaking with a specialist adviser.’

And that’s where the specialist advisers at Saga Personal Finance presumably come in, naturally.

“Older people are forgetting to take out travel insurance!” says older persons’ travel insurer

Diets, fake tans and new hairdos: How the over-fifties prepare for their holidays (but a fifth will forget to take out travel insurance)

It isn’t just bright young things and celebrities who focus on getting a ‘bikini body’ before they go on holiday – the over fifties are just as keen to make an impression it seems.

One in ten older travellers embark on a diet and exercise regime, with women three times more likely to carry out pre-holiday beautification then men.

The quest for a bikini body begins more than three months before a holiday, the research finds, and one per cent of over fifties visit a tanning salon to ensure they are bronzed before they go.

But it seems the older generation are not as focused when it comes to holiday insurance.

Source: Daily Mail, 30 May 2014

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Who placed this story into the press, to remind people of the importance of taking out travel insurance?

The findings come from a poll of 11,000 over fifties carried out by Saga Travel Insurance, which also found that people in the North East were the most keen to be buff for the beach, with 14 per cent among those surveyed aiming to tone up and trim down before the off.

That would be Saga Travel Insurance – the company which specialises in coverage for the over 50s. Speaking of coverage, there’s still time for a solid pun from Saga’s spokesman:

‘Everyone wants to look good on the beach, but getting covered on holiday isn’t just about slapping on the sun cream or putting on a hat,’ says Roger Ramsden, chief executive of Saga Services.

‘You don’t want to go without [insurance] to foreign parts. With more over fifties getting into sporting holidays this is particularly important.’

Great work, Roger Ramsden. You’ve earnt yourself a holiday.

“Nobody cares about pensioners!” says bank launching its ‘we care about pensioners’ campaign

Pensioners are being left behind by the modern world, with nobody paying attention to the needs of the elderly. Nobody, other than the company who paid for this article to make it into the Telegraph:

The research was commissioned by Barclays Bank, which is introducing “high visibility” debit cards and audio cash machines for customers with impaired or poor vison.

The typo on ‘vision’ there isn’t mine – it’s in the Telegraph original. Presumably it was copy-edited by someone of advanced years, what with nobody but Barclay’s ever having considered accessibility issues for the visually impaired prior to this article being published.