Posted on 16 April, 2013
Halle Berry, Steve Martin, Elton John, Rod Stewart, Paul McCartney and almost one million people across the UK can now class themselves as ‘parensioners’. They’re the rapidly growing group of men and women having children in their 40s, 50s, 60s and beyond and will be of retirement age while still financially supporting a little one.
Unfortunately, at a time when the average yearly pension is £8,407 and the cost of raising a child sitting at £10,593 per year, many of these parensioners could be facing a life after work where they’re spending their entire retirement income on their children – and still coming up £2,000 short.
Our story about the rise of the parensioners for retirement specialists LV= was one of the biggest talking points of the day for the media, securing sizeable print and online coverage in the Daily Express, Daily Telegraph, The Times, and Daily Mail, a five minute feature on ITV’s Loose Women, over 40 radio interviews and debate sparked all over twitter.