The 20% retirement ‘premium’ for LGBT elders are not required for straight ones

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British gay, lesbian, bisexual and trans people are paying 20% more for their retirement to avoid leaving other people behind. New LGBTI company Equality Wealth Management uncovered the shocking figures while researching why LGBTI people are so unprepared for retirement. Their spokesman complains in the interview to Gay Star News: ‘LGBTI people often want or need to retire to more expensive cities so they are not cut off from friends, the community and vital services. Most people haven’t thought about this “LGBT retirement premium”. Many LGBTIs do not plan adequately for retirement. So this extra cost is a ticking time-bomb for thousands of us.’ They insist that in big British cities, especially in the capital, the percentage of ‘premium’ paid by the LGBT elderly people is close to disaster – up to 60% . ‘This is a conservative estimate. It would be even higher if London was included in the average. We also compared the most popular cities with LGBTI older people to other cities. If you retire to the countryside the costs are even lower. But there are so few services in rural areas that understand the needs of LGBTIs, that simply isn’t an option for lots of us,’ the spokesman added.

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