Physical Gold Respond to News That Millions of Over 50s Will Be Forced to Work Past Retirement

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Leading UK Gold Dealer, Physical Gold, have responded to reports that millions of over fifties will have to work six years past retirement age to make up their pension shortfall.

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Workers should prepare as early as possible for their pension to avoid any nasty surprises during their retirement.

Britain’s leading economic forecaster, the Institute for Fiscal Studies (IFS) has warned that a generation of workers would have to increase their pension pot by 80% to retire with the income they want.

They have also raised concerns that millions of working over fifties will be working an average of six years past retirement age, just to make up their pension shortfall.

Only a third of 50-64 year olds find it possible to even hazard a guess at their future private pension income.

In April 2006, the UK government updated pension parameters to allow the investment of physical gold into pensions to allow more balanced and protected retirement wealth as well as a flexible lifetime limit for contributions.

A spokesperson from Physical Gold said:

“There are many benefits of gold investment as part of a pension portfolio. Gold qualifies for tax relief when bought as part of a pension, which means that top rate tax payers could benefit from 40% off the price of gold.

“Holding your pension assets in gold should help protect the value of your money and allow you to feel secure about your future. Workers should prepare as early as possible for their pension to avoid any nasty surprises during their retirement.”

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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