Moneymaxim.co.uk warns of need for retirement calculator
www.moneynews.co.uk > Pensions > Moneymaxim.co.uk warns of need for retirement calculator
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Money News |
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Moneymaxim.co.uk warns of need for retirement calculator
Fri 13th Aug 2010
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According to Mark Bower, managing director of moneymaxim.co.uk, the low rates that are being recorded at present mean the income that some people in their 50s may have taken for granted to be available to them after retirement will not be on offer.
He also noted that many pension schemes are now earning less than they were before, a fact that does not appear to be a "short-term measure".
"The recent changes that the government have announced will mean lower long-term income for them. Again, that is hitting that side of their balance sheet," Mr Bower added.
Fears over their financial future are the biggest concern presently for those facing retirement, with 30 per cent telling Scottish Widows they do not have enough money at the moment to enjoy their retirement to the full.
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