Pension Reforms to Benefit Travellers

According to recent news, in April next year the Government are planning to allow anyone over 55 to dip into their pension funds and withdraw as much as they like, without paying tax on the first 25%. This reform will apparently prompt over 200,000 people to cash in their retirement savings early.

Mature tourist sightseeing city with map and guidebook

According to a recent survey by Ipsos Mori, over 20% of those planning to dip into their pension will spend some of the money on a holiday. This is a substantial number of people who would prioritise a trip abroad if they received a windfall, ahead of many other luxuries and necessities.
After working hard your entire life, why not reward yourself with a once in a life time trip to relax and start ticking things off your bucket list? You could plan a luxury cruise, go on safari in Africa, see the northern lights in Norway, attend the festival of colours in India, or even just see your favourite sports team play abroad.
Just remember to protect your investment by purchasing quality over 55s travel insurance. Without insurance you may leave your new found cash vulnerable to holiday disasters, such as cancellation and medical emergencies. Visit for more information on the types and levels of cover available for your next trip.
The survey also found that 16% will invest their savings in property, 13% will pay off debts, 12% will spend money on DIY, 14% want to financially help their children, and 8% are apparently planning to splurge and buy new cars!
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