Older people looking into start-ups due to reforms on their pensions
- 24 Apr
Research has found that over half a million people aged over 55 are considering starting a new business due to pension reforms.
Research by AXA Wealth has found that one in ten of the UK's older people due to retire in the next eighteen months are looking into putting their pensions into starting a small business are going into consultancy, reports Small Business.
The trend of ‘later life entrepreneurs' could see nearly half a million older people turn to starting up their own business rather than heading into retirement.
19% of the people who wish to begin their own business are driven by the urge to utilise their experience and skills gained in their professional career to supplement their pension's income.
Adrian Lowcock, head of investing at AXA Wealth says, "We're seeing a revolution when it comes to retirement spending. The widespread concern that pensioners will blow their whole pension on a supercar feels exaggerated. Instead we are seeing a diverse approach, with the over-55s taking to the freedom and opportunities created by the pension reforms, in this case fuelling a whole new generation of later-life entrepreneurs."
What do you think of this? Tweet us your comments @suppsolutions
- 01 Sep
Older people need more male carers
Professor Martin Green has said that the government needs to do more to recruit males into front-line adult social care roles, reports the BBC.Prof Green has said that with the increasing number of...
- 25 Aug
Survey finds older people have better quality of life in retirement villages than care homes
Chief executive of Audley Retirement, Nick Sanderson, has said that demand for his form of extra-care housing was so strong he could not build homes fast enough, reports the Guardian.He said: “I...
- 12 Aug
Older people’s Commissioner disappointed by Welsh Government
Sarah Rochira, Wale’s Commissioner for older people has said she is “extremely disappointed” at the response from the Welsh Government to its call for action to protect residents in care homes,...
- 31 Jul
Charity warns of loneliness in older people
The Campaign to End Loneliness charity want a “range of support” for older people to help them fight loneliness, reports the BBC. The charity says that transport and technology are essential to...
- 27 Jul
New housing for older people promised
Members of Kensington and Chelsea’s cabinet have decided to create 150 new homes for older people on the site of a care home that closed down in 2014 due to Legionella, reports Get West...
- 22 Jul
New drug provides hope for older people with Parkinsons
Scientists have found that people taking glitazone pills were less likely to develop Parkinson’s than people taking other diabetes drugs. However, they have cautioned that the drugs could have...
- 15 Jul
Lack in dignity when caring for older people in hospital
In a poll from 2012 it has been found that poor care is most likely to be experienced by people over the age of 80, reports the BBC. Over a third of patients who need help at mealtimes did not...
- 09 Jul
New housing development for older people in Sunderland
A 16.3m housing and care scheme has been opened by the Leader of Sunderland Council, reports Sunderland Echo.The accommodation provides 158 two-bedroom apartments for older people and 17 one bed...
- 07 Jul
Social care cuts leaving older people stranded
Age UK is calling on Chancellor George Osborne to put an end to cuts to social care funding due to the increasing rate the older population is growing, reports the Yorkshire Post. Age UK has...
- 01 Jul
Charity wants priority for older people in housing
Erosh represents organisation providing housing and support to 120,000 older people and has written to new government ministers in opposition, reports Inside Housing.The letter calls on ministers to...
Revenue Optimisation "I am really impressed with Support Solutions and how small organisations are supported with information and training" Susan Harrison (Tenant Support Services)