Pension from a 100,000 pot 'halved since 1995': Annuities fall to less than 5,000 a year after rates hit record lowReport highlights nightmare facing generation of older workersFall is due to lower interest rates on corporate bonds and gilts and rising life expectancy An annuity is income paid on monthly basis when pension pot is cashed in By Becky Barrow PUBLISHED: 22:41 GMT, 9 January 2013 | UPDATED: 02:02 GMT, 10 January 2013 The monthly income from a pension pot of 100,000 has halved in the past 18 years, a study has warned The income from a 100,000 pension pot has more than halved in the past 18 years, a damning study reveals today. In January 1995, a 65-year-old worker could have bought himself an annuity – an income for life – of 11,380 a year. Today a man of the same age, who has worked throughout his life to save the same amount, would get an annuity of just 4,920 from an insurance company – a fall of 57 per cent
Future generations of pensioners should get state pension but no extra benefits, Iain Duncan Smith warnsWork and Pensions Secretary insists handouts like winter fuel allowance and TV licence are safe for current pensionersBut 'next generation' will be encouraged to save to remove 'any extra dependence on the state'Coalition plans single-tier pension of around 155-a-weekLinking state pension age to life expectancy 'will mean working until 70' By Matt Chorley, Mailonline Political Editor PUBLISHED: 09:11 GMT, 8 January 2013 | UPDATED: 10:32 GMT, 8 January 2013 Work and Pensions Secretary Iain Duncan Smith, pictured arriving at Number 10 yesterday, said coalition reforms mean future generations would only need the state pension The next generation of pensioners should not need to receive extra benefits like free TV licences and help with heating bills, Iain Duncan Smith suggested today.
Latin America is world’s happiest region… with Panama and Paraguay boasting the planet’s most cheerful people | UPDATED: 22:02 GMT, 20 December 2012 As the richest country in the world, you'd expect that Qatar would also be the happiest. And you'd also expect Japanese people to be extremely positive, seeing as though they have the highest life expectancy. But clearly wealth and good health do not guarantee happiness after both countries failed to make the top ten most positive countries
Generation of OAPs happy to keep working: Over-65s with jobs up by 124,000 in a yearThose aged over 65 who have jobs also benefit from the 'feel-good factor'They enjoy higher standard of living, better health and longer life expectancy | UPDATED: 23:04 GMT, 16 December 2012 Pensioners facing higher costs of living are working in ever greater numbers, according to a report yesterday. The number of those aged 65 or over who are still in work soared by 124,000 over the past year.
Car insurance for women up 15% ahead of new EU gender rules kicking in next week | UPDATED: 18:00 GMT, 14 December 2012 Car insurance quotes for women are up 15 per cent, or 114 on average, ahead of new European 'gender neutral' rules which kick in next week. A car insurance quote for women is now 862 on average – up from 748 six weeks ago, according to price comparison website Gocompare.com
We're living longer than ever…but suffering more pain, depression and illness as a result From 1990 to 2010, the global average age of death rose from 59 to 70, with women outliving men by about five yearsScandinavia and Australia have the longest life expectancy, while Africa and Russia are among the lowest But living longer means we are suffering health problems that cause us years of pain, disability and mental distress, says landmark study | UPDATED: 20:28 GMT, 14 December 2012 Life expectancy around the world has soared, but we are now living with health problems that cause us years of pain, disability and mental distress. This 'devastating irony', as researchers describe it, is one of the key findings of a landmark study assessing the global health in the history of medicine.
Surgeon who killed 30-stone woman in crash refusing to pay 300,000 damages because victim's size 'would have reduced her life expectancy' Benjamin Kendrick admitted killing obese Joan Johnston in a crash in 2009Mrs Johnston's widower is seeking 300,000 damages following her deathDr Kendrick disputes amount because her size 'limited her life expectancy' | UPDATED: 14:45 GMT, 11 December 2012 Damages: Surgeon Benjamin Kendrick, who admitted killing Joan Johnston in a road crash in 2009, is being sued for compensation A surgeon convicted of killing an obese woman in a road accident is refusing to pay out 300,000 compensation to her widower – because her 30-stone weight would have limited her life expectancy.
Give us this day our daily shed! Congregation complete Scandanavian FLATPACK church after spending 90 years worshipping in hut The 150-year-old Lapland wood is expected to last up to 200 yearsAssembly took just over three months thanks to team of up to 15 builders PUBLISHED: 17:58 GMT, 4 December 2012 | UPDATED: 19:22 GMT, 4 December 2012 Worshippers have beaten Santa to it and imported their own gift from Lapland – this flatpack church – just in time for Christmas. For the past 90 years, the congregation of St Michael’s and All Angels Church, in Daws Heath, Essex, have had to make do with a First World War army hut. But with the hut falling into a state of disrepair, the Anglican congregation decided it was time to replace their old church with a brand new 560,000 building.
Millions of over-50s 'sleepwalking' into old age as they face massive pensions shortfall Economic forecaster will raise alarm about generation of workers who have inadequate personal pensions | UPDATED: 10:39 GMT, 30 November 2012 Millions of over-50s are ‘sleepwalking’ into old age with little or no chance of retiring comfortably, Britain’s leading economic forecaster will warn today. It raises the alarm about a generation of workers who have their own pension, but one that is woefully inadequate. They have little idea how much is in the pension, how much it will pay them when they retire and how long they will need to live off the money, it is claimed