Prudential Research Finds Many 2011 Retirees Unable to Leave Inheritance

Prudential research has found that only half of those planning to retire in 2011 will be able to afford leaving a financial inheritance.

2011-06-09

LONDON, ENGLAND, June 09, 2011 (Press-News.org) According to new research from Prudential, only half of those retiring this year will be able to afford to leave an inheritance. Just 52% of those questioned are confident they have enough income and assets to fund their retirement and still be able to leave money to relatives and dependents.

Prudential's Class of 2011 research questioned people planning to retire this year and found that 26% have already ruled out being able to leave any inheritance while another 22% were unsure whether their personal savings would be sufficient to fund their retirement. The results also show that 9% of those planning to retire this year will cancel their inheritance planning in order to boost their own retirement income.

Gerry Brown, a tax and trusts expert from Prudential said: "Obviously the focus for retired people has to be on their own retirement income and so leaving a financial legacy can become a secondary consideration. Our research shows that inheritances are increasingly in the 'nice to do' rather than the 'need to do' box because of uncertainty around being able to afford a comfortable retirement.

"For those who do hope to leave a financial legacy there is a risk of assets that increase in value being left exposed to tax as the threshold for inheritance tax is frozen until 2015.

"It is therefore imperative for people looking to leave an inheritance and secure a comfortable retirement income to seek professional financial advice in the run up to retirement and to save as much as possible, as early as possible."

Men are more confident of leaving a financial legacy - the research results show that 56% of male retirees plan to leave an inheritance compared with 48% of women.

The Class of 2011 research has previously found that this year's average expected retirement income is GBP16,600 with just 39% confident they have saved enough for a comfortable retirement.

Across the UK those planning to retire in Scotland this year are the most positive about their ability to leave an inheritance - 67% of them believe they will be able to leave a financial legacy for their families, compared with only 43% of retirees in Wales.

The information contained in Prudential UK's press releases is intended solely for journalists and should not be used by consumers to make financial decisions. Full consumer product information can be found at www.pru.co.uk.

Notes to editors:
*Survey conducted by Research Plus between 6 and 14 December 2010 using an online methodology among 10,143 UK non-retired adults aged 45+ including 1,005 planning to retire in 2011.

About Prudential:
'Prudential' is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group, which between them provide a range of financial products including annuities, life assurance, bond investment, pension funds, a tax calculator and retirement plans.

Prudential offers customers pensions and annuities, pensions retirement income, insurance and investment opportunities.

ELSE PRESS RELEASES FROM THIS DATE:

Jumeirah Frankfurt Announces Martin Steiner as Executive Chef

2011-06-09

Jumeirah, the Dubai-based luxury hospitality group, has announced it will be opening its first property in mainland Europe, Jumeirah Frankfurt. The property will be welcoming its first guest in August, while the Grand Opening is scheduled for September. One of the main goals of Dagmar Woodward, general manager of Jumeirah Frankfurt, is to turn the hotel into a gastronomical destination. With the appointment of Martin Steiner as executive chef, this dream is becoming a reality and the Austrian national will soon enrich Frankfurt's culinary scene thanks to the hotel's ...

Rezidor Opens the Radisson Blu Hotel, Dubai Downtown

2011-06-09

The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, has announced that its 7th property in the UAE, Radisson Blu Hotel, Dubai Downtown, is now open. Located on the upper floors of a mixed used building, the new first class- and full service hotel is walking distance from the Dubai Mall and just 10 kilometres from the international airport. Besides 220 contemporary rooms and 22 suites the hotel also features ample meeting facilities including 6 conference rooms, 2 board rooms, and a business centre. For leisure seekers the property has a swimming ...

Chest journal news briefs -- June 2011 issue

2011-06-09

NON-PHYSICIAN STAFFING MAY ADDRESS SHORTAGE IN THE ICU Intensive care units are facing staffing shortages, which are predicted to worsen in the future. A recent study, conducted by physicians from Beth Israel Medical Center and Columbia University Medical Center in New York, NY, studying 590 daytime admissions in two intensive care units (ICUs) suggests that non-physician providers can help address these staff shortages. In the study, no significant differences in hospital mortality or other patient outcomes were found between high-acuity, adult ICU units staffed by nurse ...

No such thing as a red or blue state

2011-06-09

Take a random person from a so-called "red state," and the odds are nearly 50/50 that he or she would actually be more liberal on political issues than a random resident of a "blue state." More specifically, the chances of any one red state citizen scoring more liberal than a blue state citizen are 46 percent on economic issues and 51 percent on social issues. The research, conducted by political scientists at the University of Pennsylvania and Brigham Young University, paints an entirely different picture of American politics than the popular narrative of a polarized ...

Rezidor Opens the Radisson Blu Anchorage Hotel, Lagos VI in Nigeria

2011-06-09

The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, has opened the very first Radisson Blu Hotel in Nigeria: the Radisson Blu Anchorage Hotel, Lagos VI with 170 guest rooms. "Nigeria is one of our key focus markets on the African continent. The country offers a great potential for the development of our core brands Radisson Blu and Park Inn by Radisson, and we are delighted to open our first property in the capital city of Lagos," said Kurt Ritter, president & CEO of Rezidor during his visit to Nigeria. Rezidor is one of the ...

USC: Active social, spiritual and physical life helps prevent health decline in seniors

2011-06-09

Small, healthy lifestyle changes and involvement in meaningful activities—going beyond just diet and exercise—are critical to healthy aging, according to a new USC study. Guided by lifestyle advisors, seniors participating in the study made small, sustainable changes in their routines (such as visiting a museum with a friend once a week) that led to measurable gains in quality of life, including lower rates of depression and better reported satisfaction with life. The study validates the current trend in public health strategies to focus on preventing illness and disability, ...

Digital democracy? Study finds elite viewpoints dominate online content

2011-06-09

Anyone with Internet access can generate online content and influence public opinion, according to popular belief. But a new study from the University of California, Berkeley, suggests that the social Web is becoming more of a playground for the affluent than a digital democracy. Despite the proliferation of social media – with Twitter and Facebook touted as playing pivotal roles in such pro-democracy movements as the Arab Spring – the bulk of today's blogs, websites and video-sharing sites represent the perspectives of college-educated, Web 2.0-savvy users, the study ...

Saginaw State Farm Agent Linda Allen Awards Boswell HS Student Brooke Allen Scholarship to Texas A&M

2011-06-09

State Farm Agent Linda Allen is pleased to name Brooke Allen as the winner of the second annual Linda Allen State Farm Agency college scholarship. Brooke plans to attend Texas A&M in the fall with a major in bio-environmental science and research oceanography. A Texas University Interscholastic League Scholar, and Distinguished Texas Graduate, Brooke's Advanced Placement classwork helped her earn a 4.1 GPA and graduate in the top 10 percent of her class at Boswell High School in Saginaw, Texas. "I've been visiting college campuses since the fourth grade because ...

Adjuvant combo shows potential for universal influenza vaccine

2011-06-09

Researchers at National Jewish Health have discovered how to prime a second arm of the immune system to potentially boost influenza vaccine effectiveness. A combination of two adjuvants, chemicals used to boost the effectiveness of some vaccines, induced CD8, or killer, T cells to join antibodies in response to influenza infection. Since the killer T cells targeted a highly conserved protein that does not change from year to year, the adjuvant strategy suggests potential for a universal flu vaccine. "Most vaccines protect against disease by boosting antibody protection," ...

Sweeping studies vindicate genetic theory of autism

2011-06-09

With autism affecting close to one percent of children in the U.S., the urgency to find some sort of explanation for the disorder has never been greater. This week, three studies published in the 9 June issue of Neuron offer a definitive vindication of the theory that spontaneous, or de novo, genetic mutations underlie the development of autism in many families with no history of the disorder. Two of the new papers, independent microarray studies of unprecedented scale, point to an array of genetic variants that are likely to increase the risk of developing an autism ...

LAST 30 PRESS RELEASES:

Intelligent fight: AI enhances cervical cancer detection

Breakthrough study reveals the secrets behind cordierite’s anomalous thermal expansion

Patient-reported influence of sociopolitical issues on post-Dobbs vasectomy decisions

Radon exposure and gestational diabetes

EMBARGOED UNTIL 1600 GMT, FRIDAY 10 JANUARY 2025: Northumbria space physicist honoured by Royal Astronomical Society

Medicare rules may reduce prescription steering

Red light linked to lowered risk of blood clots

Menarini Group and Insilico Medicine enter a second exclusive global license agreement for an AI discovered preclinical asset targeting high unmet needs in oncology