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It's all a matter of size ... |
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Monday, 15 August 2005 |
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The Association of British Insurers calculates that there is a £27 billion gap between the amount Britons are saving and what they should be saving for a comfortable retirement. More than 10,000 company pension schemes have been wound up since 1997, while an estimated 80,000 people lost their retirement savings when their company collapsed with a deficit in its pension fund. Two-thirds of final salary schemes are now closed to new members and low and middle income earners have snubbed stakeholder pensions designed by the Treasury to encourage them to save for retirement outside the workplace pension.
The sorry state of pension provision remains the case regardless of nationality since with all of us living longer and wanting to retire earlier; the realities of achieving a comfortable retirement are slim. There are two types of pension in essence, one will overcome this issue and the other will not - for more info
You either have a big one or small one (pension that is) – which one would YOU prefer?
Seriously though, failing to make provision for your retirement will only result in your twilight years being filled with stress and financial uncertainty when really it should be a time to enjoy oneself and do the things we have never got around to do. How do you ensure your pension fund does not run out before you do?
The message we are trying to reinforce in light of all the information in the Press and on Political Agendas is not leaving your pension to chance or relying on someone else to take care of it to for you. Do not totally rely on your Company Scheme providing for you in retirement. Sure, take any company perk you can get but ensure you have made personal provision too in the event that your Corporate Scheme does not come up to scratch. Have your Company Pension independently assessed and know your options should you wish to transfer the pension elsewhere. And if you have made private provision for your pension ensure that it too is doing the right thing and that your present contributions meet your pension aspirations.
99% of people save insufficiently for their retirement – Fact. If this article has made you consider taking action to secure your retirement, there lays the next hurdle – taking action.
Call us today and let one of our qualified consultants get your retirement plans on track. We have an array of award winning Pension companies since we are an independent company. Moreover some the pension providers offer attractive incentives to give your pension a good kick start. Do it now – call us toll free 8004558 (+9714 3979550) or |
