Retirement Report 2017: Renters in Retirement
The number of people renting in retirement is on the rise, and not everyone who is currently, or will be living in rented accommodation is prepared for this extra cost in later life. While the term ‘Generation Rent’ is often applied to young people, it is becoming increasingly applicable to pensioners as well. As younger generations, who have been less able to get on the property ladder than their parents and grandparents, come of age, the number of people facing ‘Rent-irement’ will continue to rise
We’re encouraging people to recognise and understand the financial implications of renting in retirement and take affirmative action now. We’re also calling for changes to the housing market so that it better suits older renters. This is the third of three Retirement Report 2017 chapters.