The financial benefits of getting married in retirement

Two Wedding Rings Resting Together

By Harvey Jones

The number of people over the state pension age who are cohabiting is rising rapidly but they could face a financial sting in the tail, according to a new report from insurer Royal London.

They are missing out on valuable tax allowances, state pension rights and inheritance tax benefits that could ultimately cost them tens of thousands of pounds.

This strengthens the case for getting married in later life as couples who have tied the knot do better out of the tax and benefits system.

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