Thursday 5th July 2007
New figures show that Britons of retirement age and above are among the most affluent in the country.
Research conducted by Birmingham Midshires found that ten per cent of over-55s are satisfied with the amount of money available to them.
This compares with a figure of about two per cent for 18 to 24-year-olds, the financial services provider revealed.
Director of savings operations Jason Robinson said: "Its great news that many people can look forward to financial and social freedom in later life.
"But, of course, the more money they have coming in from pensions and savings the more enjoyable retirement will be."
The news follows warnings from the Financial Services Authority (FSA) that those approaching retirement should be given extra consideration when applying for a mortgage.
According to the FSA, an applicants long-term ability to meet repayments should be taken into account before any new mortgage lending is approved.
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