Nearly half of retirees still financially support families

The insurer's Class of 2013 research, which tracks the financial plans and expectations of people entering retirement, shows that retirees pay out on average £240 a month to help their families, with 11% paying out more than £500 a month. Around 15% said they provide money regularly to cover items such as food or travel, while 14% help with one-off non-essential items such as holidays, new TVs or even cars. Vince Smith Hughes, retirement expert at Prudential, said: "With nearly half of those expecting to retire this year still providing financial support to their families, retirement ...