Accounting services in Manchester can help residents to overcome the problems presented by differing life expectancies in different parts of the country – and close the pensions ‘postcode gap’ when compared with areas like East Dorset.
Figures from the TUC show that, at the retirement age of 65, men in East Dorset can expect to live over 20 years more, whereas in Manchester the life expectancy is little more than 15 years.
By 2028, this five-year gap is expected to have widened to more than seven years, with East Dorset men living 24 years in retirement, and Manchester men just 16.9 on average.
This equates to a £53,000 difference in the two groups’ state pension receipts between retirement and death.
However, there are some other factors that might be taken into account, and professional accounting services in Manchester can help you to prepare better for retirement through private pension schemes and so on.
For example, working in a ‘professional’ role, rather than in manual labour, is predicted to be worth more than £22,000 in state pension earnings by 2028, as it is typically associated with three years greater life expectancy.
The research highlights how decisions made now might have far-reaching consequences – and why the old adage of ‘at least you have your health’ is more bound with your finances than you might realise.
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