Most fifty-somethings consider themselves to be relatively young, so the idea that they may qualify for special treatment in deference to their age probably never crosses their minds.

However, some banks and insurance companies offer special accounts and products for the over-50 age group.  For example, Coventry Building Society pays 6.45% on its 50-Plus Notice Account and Saga 6% on its Telephone Savings Account, both exclusive to the over-50s.

For a best buy table of savings accounts for the over-50s, visit Moneyfacts. You will also qualify for insurance deals from specialist companies such as Saga (http://www.saga.co.uk/), RIAS (http://www.rias.co.uk/) and Age Concern Insurance Services (http://www.ageconcern.org.uk/)

However, don’t be taken in by the marketing hype. Special deals for the over-50s are not always as good as those that are available to the wider general public, so always compare before buying.

At 50, if you can afford to retire, you can also start to draw a personal pension or, provided the scheme rules allow it, an occupational pension.  From April 2010 the minimum age is rising to 55, unless you have to retire early because of ill-health.

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