Latest news with #over55s
Daily Mail
10-08-2025
- Business
- Daily Mail
This little-known trick will boost your pension income by NINE PERCENT, beating the stock market - here's exactly what you need to do...
Many over-55s are missing out because they are unaware of a valuable trick that could guarantee income in retirement – without locking away their pension savings for life. Reliable income in retirement regularly features at the top of a pension saver's wish list. Traditionally, this has meant using your pension pot to buy an annuity, a financial product that can provide a set income for life.
Yahoo
06-08-2025
- Business
- Yahoo
Calm Stores, Clear Sites: New Research Highlights How Seniors are Redefining Retail Expectations
SYDNEY, Aug. 6, 2025 /PRNewswire/ -- While many Australians are adjusting their spending in response to rising cost-of-living, new research from Manhattan Associates Inc. (NASDAQ: MANH) reveals that older Australians continue to play a significant role in discretionary retail. Backed by financial stability and a clear preference for personalised, supportive in-store experiences, over-55s represent a key growth opportunity for retailers who are willing to meet them on their terms. Shoppers aged 55+ are spending, but their expectations are high According to the research, 68% of mature-aged shoppers reported either no impact or improved confidence in their personal finances, despite ongoing interest rate pressures. Notably, 64% also said that special offers and promotions influence their spending decisions in-store, demonstrating a willingness to engage, provided the experience is worthwhile. "These shoppers are among the most financially secure and active in the retail space," said Raghav Sibal, Vice President of APAC at Manhattan Associates. "But they're also more discerning. They're not shopping just for products, they're shopping for a comfortable, helpful and human experience." The research revealed that older Australians value a quieter, calmer in-store environment. Two-thirds (66%) of shoppers aged 55 and over said they would prefer retailers to turn down in-store music or avoid it altogether, with one in four (24%) reporting they have actively avoided stores that feel too loud or chaotic. In addition to creating the right environment, staffing also plays a critical role in shaping the in-store experience for senior shoppers. Only 26% of over-55s said they like to shop entirely independently. Most prefer some level of support, particularly when engaging with new technologies or unfamiliar products. Encouragingly for retailers, 41% of mature-aged consumers said they would shop in-store more often if there were more staff available to assist. "Retailers sometimes assume that mature-age shoppers want to be left alone, but the data tells a different story. This group values human connection, reassurance, and calm environments. Creating in-store experiences that reduce sensory overload and provide access to well-informed, available staff will go a long way in driving loyalty and repeat visits," said Sibal. Technology should support, not replace, human interaction Senior shoppers are not averse to using technology instore with 73% of shoppers being comfortable using self-checkouts and similar solutions. However, of those surveyed 40% of shoppers said that they usually prefer or require some assistance when using these tools. "Mature-aged Australian shoppers are often willing to try and use instore technologies to speed up their retail experience, however they often need to be supported by knowledgeable staff in-store," said Sibal. "It's that personal interaction that makes the difference, someone who can answer questions or offer guidance." Older Australians are increasingly confident online, but want reassurance and clarity Contrary to common assumptions, senior shoppers are far from digital holdouts. In fact, 65% of Australians aged 55 and over now say they are more likely to shop online due to factors like convenience, better access to deals and broader product selection available through digital channels. This growing digital fluency is also reflected in user experience, with 57% of mature-age shoppers reporting they rarely or never encounter issues when shopping online. Only 10% say they frequently run into problems, highlighting a general comfort with digital retail. However, attracting and retaining these shoppers requires retailers to understand the needs of older shoppers. A third (32%) say they would be encouraged to shop online more often if retailers provided clear reassurance around website security. Meanwhile, 28% want more detailed product descriptions and customer reviews to support informed decision-making and 20% said easier-to-navigate websites would increase their likelihood to purchase. "We're seeing a generational shift in how older Australians interact with digital commerce. This group is highly pragmatic. They're not just looking for tech-savvy interfaces, rather they want clarity, trust and a sense of control. Retailers that invest in intuitive website design, transparent product information and strong cybersecurity messaging are more likely to win their confidence and their business," concluded Sibal. For more information, please visit Methodology: Manhattan Associates surveyed 500 Australian consumers over the age of 55. ABOUT MANHATTAN ASSOCIATESManhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers. Manhattan Associates designs, builds, and delivers leading edge cloud and on-premises solutions so that across the store, through your network or from your fulfillment centre, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit View original content to download multimedia: SOURCE Manhattan Associates Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
What you need to ask yourself as you plan for retirement
The choices we make at retirement are among the biggest financial decisions we will ever make. However, data shows there are worrying gaps in our knowledge and we risk making decisions that we could later come to regret. Only 39% of people surveyed by Hargreaves Lansdown said they had a clear understanding of their retirement options. For many, these decisions are many years away, and there's still time for them to do their research, but for the over 55s there's a knowledge gap that needs to be addressed sooner rather than later. At this age many people may not have stopped work, but they can access their pension, and so the fact that only 45% of them said they clearly understood their options is concerning. Read more: The cost of caring for a loved one At this stage of life, many people will be giving retirement more serious thought. Some may have a clear retirement date in mind, others may look to take a more phased run into it by winding down work gradually. These decisions will have a big impact on how income is taken, so needs to be planned for. Key questions you need to be asking yourself include whether you want a guaranteed income for life or whether you are willing to continue to take investment risk with your pension. If you opt for an annuity, you need to think about what type best suits you – do you need to make provision for a spouse? Do you need an inflation-linked product or level? Will you annuitise your entire pension in one go or are you looking to annuitise in slices as you age? Considering these options is vital, as once bought, an annuity cannot be unwound, so if you make a mistake then you will be counting the cost for a long time to come. Similarly, with income drawdown, you need to understand that your pot remains invested in the markets and be comfortable with the risk of that. As none of us know how long we will live, you need to be aware of the perils of taking out too much too quickly and the problems that may cause. You also need to think about what happens if markets dip and what it means for your budget if you have to cut back. We advocate people in drawdown keep between one and three years of essential expenses in an easy access cash account, so they can use this money to supplement their income in volatile times. Read more: This under-claimed benefit could help boost your pension If you are considering your retirement then it's vital to make use of all the support that is available. This could be financial advice or guidance services such as government backed Pension Wise. The Financial Conduct Authority's work on the advice guidance boundary will spell good news as it will enable providers to offer more support than they have previously been able to by letting them suggest more personalised options they can consider. Being able to offer such support could be a real gamechanger in helping people make more informed choices around retirement. Read more: How much does it cost to become a driver in the UK? How to tell if you're rich Who wears the financial trousers in your relationship?Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
What you need to ask yourself as you plan for retirement
The choices we make at retirement are among the biggest financial decisions we will ever make. However, data shows there are worrying gaps in our knowledge and we risk making decisions that we could later come to regret. Only 39% of people surveyed by Hargreaves Lansdown said they had a clear understanding of their retirement options. For many, these decisions are many years away, and there's still time for them to do their research, but for the over 55s there's a knowledge gap that needs to be addressed sooner rather than later. At this age many people may not have stopped work, but they can access their pension, and so the fact that only 45% of them said they clearly understood their options is concerning. Read more: The cost of caring for a loved one At this stage of life, many people will be giving retirement more serious thought. Some may have a clear retirement date in mind, others may look to take a more phased run into it by winding down work gradually. These decisions will have a big impact on how income is taken, so needs to be planned for. Key questions you need to be asking yourself include whether you want a guaranteed income for life or whether you are willing to continue to take investment risk with your pension. If you opt for an annuity, you need to think about what type best suits you – do you need to make provision for a spouse? Do you need an inflation-linked product or level? Will you annuitise your entire pension in one go or are you looking to annuitise in slices as you age? Considering these options is vital, as once bought, an annuity cannot be unwound, so if you make a mistake then you will be counting the cost for a long time to come. Similarly, with income drawdown, you need to understand that your pot remains invested in the markets and be comfortable with the risk of that. As none of us know how long we will live, you need to be aware of the perils of taking out too much too quickly and the problems that may cause. You also need to think about what happens if markets dip and what it means for your budget if you have to cut back. We advocate people in drawdown keep between one and three years of essential expenses in an easy access cash account, so they can use this money to supplement their income in volatile times. Read more: This under-claimed benefit could help boost your pension If you are considering your retirement then it's vital to make use of all the support that is available. This could be financial advice or guidance services such as government backed Pension Wise. The Financial Conduct Authority's work on the advice guidance boundary will spell good news as it will enable providers to offer more support than they have previously been able to by letting them suggest more personalised options they can consider. Being able to offer such support could be a real gamechanger in helping people make more informed choices around retirement. Read more: How much does it cost to become a driver in the UK? How to tell if you're rich Who wears the financial trousers in your relationship?
The Independent
23-05-2025
- General
- The Independent
Residents at over-55s block of flats left ‘trapped' after lift broken for nine weeks
A pensioner living in a block of flats for over-55s has said she was left 'trapped' and 'isolated' after the building's lift was broken for nine weeks. Myra Hunter, aged 73, said many of her fellow residents at Citadel Court in Plymouth are in their 80s and 90s and were unable to use the stairs after the lift broke in February. Describing the lift as a 'vital part of living in the block', Ms Hunter – who lives on the fourth floor – told the BBC it was 'not acceptable' that it had been broken for so long. Sanctuary Housing, which runs the block of 38 flats, apologised for the disruption in a statement, and blamed the delay in fixing the lift on difficulties sourcing the specialist parts required. The lift was fixed on 23 April, said a spokesperson for Sanctuary, a housing association which provides accommodation and care for around a quarter of a million people in across England and Scotland, according to its website. Describing the situation in recent months as worse than the Covid lockdown, Ms Hunter said: 'To stay in because you can't get down the stairs from your apartment, it's really not good.' Warning that one of her neighbours had been left unable to visit his wife who lives in care, Ms Hunter added: 'When you come here at 55, you don't anticipate being disabled. But, as age catches up with you, you need that lift.' Ms Hunter said she and her seven-year-old granddaughter also got stuck in the lift for around 10 minutes in February after it broke down before being freed by a manager at the building, which was built in 1987. The resident told the BBC she felt nervous about using the lift because of a 'constant worry' that it might break down. A spokesperson for Sanctuary said: 'The lift at Citadel Court was restored on Wednesday 23 April. 'The availability of the specialist parts required meant it took longer than expected to complete the repairs and we are sorry for the disruption and inconvenience this has caused residents.'
