Friends Provident urges people to deal with pensions calculator early

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Friends Provident urges people to deal with pensions calculator early

Tue 9th Nov 2010

Savers should be sure to consider their retirement options early on in life, according to a source from Friends Provident.

Trevor Matthews, chief executive of the company, described it as "crucial" that people look at their savings strategy while they still have the chance to do something about it.

He noted that some people may be forced to work into their late 60s or perhaps even their 70s to secure the income they dreamed of having during old age.

"As individuals we now have more choices, but coupled with this comes increased responsibility and the need to plan adequately for retirement," Mr Matthews said.

His comments were made following the publication of research by Friends Provident showing 40 per cent of adults in Britain plan to work past 70 years old.

Last month, the firm applauded the government for bringing in its auto-enrolment pension system, saying that customers will benefit financially from the arrangement.

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