Since April 01, 18 million people aged over 55 in the UK already have tax-free access to up to 25% of their pension, for the first time ever. Every year, a further 320,000 will become eligible.
It is estimated £6 billion will be spent within three months, with number one in the list - on holidays.
In light of these changes, Fred. Olsen Cruise Lines announced that almost a fifth of 1,000 respondents (between 50- and 59-year-old) would be looking to spend a part of their savings on a cruise holiday.
Fred. Olsen also showed nearly 80% of respondents would be looking to spend around £10,000 on a travel experience, with further 15% ready to spend up to £20,000 (per person).
The research has highlighted Fred. Olsen as one of the most trusted brands to provide the best destination experience.
To inform vacationers as to the holiday options available, Fred. Olsen line has launched a new brochure - ‘The World’s Top 50 Experiences’, which can be enjoyed on a cruise by the line. From swimming with dolphins in crystal-clear waters, to uncovering mysterious Machu Picchu, or partying at Mardi Gras in New Orleans, Fred. Olsen has ‘once-in-a-lifetime’ experiences to tempt even the most seasoned travelers.
These are the best way to celebrate, whether a birthday, anniversary or even retirement. With the upcoming changes to when and how to access pension pots, these experiences are even more accessible to enjoy now.
Fred. Olsen’s 2016/17 cruise season will see the fleet of four vessels - Balmoral, Black Watch, Boudicca and Braemar, sailing in 253 destinations in 84 countries, from 10 convenient UK departures ports.
The new 2016/17 program went on sale on March 5 and led to record-breaking sales. The ‘Top-Sellers’ include a ‘German Waterways’ voyage, an adults-only cruise ‘Exploring the Fjords of Greenland’, and a ‘Central America & the Mardi Gras’ adventure.