A recent study has shown that the worth of a Bristol pension is higher than the value of a London pension.
Because of the cost of living in Bristol, Bristol pensions realize a shortfall in the same way as those in Bristol or London but.
If you live in London you will need £12,299 to meet essential living costs.
State pension provides for £7,500 a calendar year, however the typical UK pensioner requires £10,020 to meet living costs.
Expenses vary quite extensively over the United Kingdom but Bristol pension value is 50 % higher than in London.
Bristol pension value
Bristol pension worth is often the subject of protest.
Most high priced living costs for pensioners
1. London – £ 12,300.
2. Belfast – £ 9,929.
3. Bristol – £ 9,862.
Least expensive living costs for pensioners.
1. Cardiff – £ 8,180.
2. Newcastle – £ 8,596.
3. Hull – £ 8,596.
The £ 2,438 gap when comparing Bristol pension and London pension is a major difference.
The degree of Bristol pension underperformance is emphasized by the website lovemoney.com where it states that the average pension pot in the UK is just £ 25,000 resulting in a return of only £ 1250 PER YEAR!
Bristol offers all of the features and benefits of a capital city, at a low cost,” the survey said.
The results of the 2011 census shows that the population of Bristol is 428,100 and also that the percentage of over 65’s is 13 % meaning that the number of inhabitants with a Bristol pension that needs to meet the minimum is 55,653.
Bristol Pension Value – Working later in life.
New statistics just lately circulated by the Office for National Statistics affirms that that people persisting to work later in life are more than they used to be.
The average age that people leave the labor rose from 63.8 years to 64.6 years for males and from 61.2 years to 62.3 years for women between 2004 and 2010.
This means that the Bristol pension value is enhanced as the contributions continue for longer without drawing from the pension pot and so increasing the gain from your annuity.
Do you know your pension performance or do you think it may be a tip to get a pension review. Bristol Pension review contact.