Baby boomers 'happy with financial lot'

The Telefraph

But while eight in ten over-50s report high levels of 'financial well-being', their younger counterparts are far less optimistic.

A global comparison of "financial satisfaction" has found older Britons are happier than their counterparts in other, wealthy countries - including France, Germany and the US.

This surprising research, undertaken by academics at Bristol University in conjunction with think tank The International Longevity Centre, comes at a time when the political agenda is dominated by themes relating to households' financial struggles in the face of rising energy bills, low interest rates and other difficulties.

It adds to the controversy surrounding the 'baby boomer' generation and whether they are benefiting 'unfairly' from a range of taxes, benefits and other financial factors which younger generations will not enjoy to the same degree.

Debate around the issue was fuelled earlier this year by the the Bishop of London Richard Chartres' who said baby-boomers - generally regarded as those born between 1945 and 1960 - were a "fortunate generation."

In Britain 80pc of over-50s reported that "they are satisfied with the financial situation of their household," according to the research, making the UK seventh in a ranking of 56 countries. Those countries ahead of Britain included Norway, Sweden and Finland. Switzerland topped the list altogether, where almost 90pc of over-50s are "financially satisfied."