IFG Financial Services: Not enough being saved for retirement
www.moneynews.co.uk > Pensions > IFG Financial Services: Not enough being saved for retirement
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IFG Financial Services: Not enough being saved for retirement
Mon 23rd Jun 2008
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Donna Bradshaw, a financial planning strategist with the firm, said that people are not saving enough for their old age, especially as investment has been "a bit of a national obsession".
While defined contribution pension schemes may be best for those moving around more in jobs, people "haven't appreciated how much they should be putting in" to these, in comparison with the final salary pension schemes that usually see higher levels of contribution.
Realising that pension saving has become less attractive due to "too much legislation" in recent years, she called for an "education process" to bring people back to the benefits of a pension.
April saw a record savings inflow for building societies of £1.8 billion, aided by the highest ever monthly inflow to building society cash ISA accounts, according to the Building Societies Association.
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