A Word from MGM Advantage


Every year we commission extensive research with the older generation.

We do so because it provides a welcome opportunity to really listen to people, to gather invaluable food for thought and to consider how we – and others – might take things forward.

Covering the whole retirement picture, you’ll find challenging thoughts and at least a glimpse of you or your future self in here somewhere, alongside some surprising facts and figures.

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Retirement Nation

The Retirement Nation research was conducted by Research Plus+ who polled 2,003 people over the age of 55. Fieldwork was conducted during 13-19 July 2012. Some data was compared with similar research conducted by us in October 2011 of 2,086 UK adults aged over 55.

This allows us to track the change year-on-year particularly across financial and wellbeing based questions.As a retirement income specialist, it’s vital that we understand the hopes, fears and financial position of people approaching and entering their retirement.

The retirement nation makes up 16% of the population

Chapter 1: The power and the influence of the retired nation

The retirement nation is a huge group and one which is growing fast, as is its influence on society.

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The average pension pot provides £290 per week

Chapter 2: The gulf of wealth in retirement

Here we take a look at the true picture of retirement wealth and consider the income gap between rich and poor.

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30% feel that retirement is a 'good time'

Chapter 3: The consequences of retirement

General wellbeing is a good indicator of how people cope with the changes that retirement brings.

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The psychology of the retired nation

Chapter 4: The psychology of the retirement nation

Here we bring our retirement nation to life – look out for yourself in these descriptions.

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65% of retirees feel that politicians treat them badly

Chapter 5: Where’s the respect?

42% of retirees feel that society treats them badly, up from 34% in 2011

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38% don't know what an IFA is

Chapter 6: Lack of preparation for retirement

Around 15% of people say they are completely unprepared for retirement (and 53% of those are in debt)

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