LOS ANGELES: The creation of pensioner bonds to underpin the creation of goods and services for the aging needs to be evaluated.
The over 50s sit on a mountain of cash. The UK government is the first to recognize this market.
Treasury Minister George Osborne announced these pensioner bonds in the last UK Budget and they pay 2.8% interest on a one year bond and 4% on a 3 year bond. They offer the over 65s a far better deal than anything available.
That 110,000 pensioners have purchased them in the first two days they’ve been on sale is striking. The Treasury claims that this is the biggest opening sale of a retail financial product ever…