Caledonia Asset Management pensions calls for compulsory payments

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Caledonia Asset Management pensions calls for compulsory payments

Individuals should be forced to enrol in some form of pensions scheme, in the view of one expert.

According to managing director of Caledonia Asset Management Gordon Forbes, it should be compulsory for people to join up to some sort of programme, as he feels it is the only way of making them promote their own fund.

He explained that there is a great level of resistance from some people to go into schemes but that something has to be done to get people involved without them having to pay for advice.

The majority of people who need to join a programme belong to the band of lower earners, but they are exactly the ones who cannot afford to pay for pensions advice.

His comments follow a report by the National Association of Pension Funds which found that only a third of people are happy with their pension income, as just 34 per cent think they will have enough to retire on.

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