Pension income 'driven down by multiple factors'
www.moneynews.co.uk > Pensions calculator > Pension income 'driven down by multiple factors'
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Money News |
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Pension income 'driven down by multiple factors'
Fri 21st Oct 2011
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Billy MacKay, marketing director at A J Bell, told listeners to the FT Money podcast that there has been a combination of factors that mean Brits are facing serious issues regarding their pensions income over the coming years as a result of the financial downturn.
He commented: "It is the fact that we have an environment at the moment where we get record low gilt yields in the UK alongside very volatile market conditions."
According to Martin Bamford, chartered financial planner at Informed Choice, UK savers currently have some difficult choices to make in terms of how best to save for their retirement.
He argued the present low level of interest being offered means traditional saving accounts are not providing high enough yields, while the volatility of markets means this route is much riskier, but could lead to better results.
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