Pensions research is grim reading, says Friends Provident

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Pensions research is grim reading, says Friends Provident

Friends Provident has revealed that the results of its research made for grim reading, as people were not taking the time to understand pensions.

Martin Palmer, head of corporate pensions marketing at the organisation, claimed that there is not enough awareness of the issues that face people when they get older.

He recommends sorting out a retirement plan early, as this will stop people having to worry about their money when they retire, instead they can go out and enjoy it.

"The issues are not simply going to disappear, but the hope is that by being more aware of these financial pressures we can start to equip ourselves for later years."

Mr Palmer made his comments following research by the company which indicated that 58 per cent of adults in the UK do not know how to set up a private pension.

Last month, Friends Provident announced a new product that it says will allow stock market fluctuations to influence the return on their investments.

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