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Pension UK: Third of Britons still support family members as they approach retirement | Personal Finance | Finance

Will Hale, CEO at Key, commented on the findings.

He said: “Whilst many older people enjoy treating their loved ones – even if it is just paying for a nice meal – a third of those who intend to retire in 2020 are doing more than this; regularly topping up their wider family’s finances.

“The current economic situation is likely to place even more pressure on people’s finances but with the pandemic impacting pension savings this could see some retirees having to tighten their belts and could impact their ability to continue to support younger generations.

“It is important that families have open discussions about their finances.

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