Sun Life of Canada calls for retirement calculator education

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Sun Life of Canada calls for retirement calculator education

Wed 17th Nov 2010

Consumers should be given more information on how to plan for their retirement, according to a source from Sun Life Financial of Canada.

Mark Stopard, head of marketing at the firm, described how many people find the topic too complex to get their heads round.

He claimed it is often more affluent clients who struggle to understand how much they need to put aside in order to achieve the pension they desire and need to be educated on the matter.

Research by Sun Life of Canada showed only 26 per cent of wealthy people - defined as those who have between £100,000 and £500,000 in savings - say they have planned their retirement savings strategy in detail.

"These are worrying statistics. Retirement planning is more important than ever given that the pension regulatory landscape is changing frequently," remarked Mr Stopard.

Last month, the company published research showing the issue that most concerns older people is the threat of inflation.

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