A new term, party pensioners, is being used to describe retired people who are spending their money and enjoying their lives. Party pensioners are not as concerned with leaving an inheritance for their children. Ananova reported that a Sainsbury's Bank study found that 83% of people aged over 50 do not plan on holding back during retirement even if it means spending their children's inheritance. There is a word for spending the children's inheritance as well. It is SKIing, which means Spending the Kids' Inheritance.
