The ‘baby boom’ generation are reaching their 65th birthdays in record numbers during 2011.
According to the Department for Work and Pensions, nearly 658,000 men and women will turn 65 this year. This is the largest number to reach this important birthday in a single year since records began.
The number of people reaching their 65th birthday will continue to climb in 2012, with 806,000 people forecast to turn 65 next year.
When compared against the 100,000 babies born each year in England and Wales, this is a stark indication of an ageing population.
Reaching your 65th birthday often brings with it important decisions to make about retirement income.
If you are turning 65 in 2011 or 2012, now is the time to engage with an independent financial adviser to review all of your income options at retirement – not simply to secure the most competitive annuity rate but to consider all of the options available.
Photo credit: Flickr/–Sam–
