Plan retirement calculator use early, suggests M&S Money

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Plan retirement calculator use early, suggests M&S Money

Thu 30th Dec 2010

M&S Money has revealed the extent of the travel plans of the over-50s and suggested some future retirees may need to start putting together a financial plan for how they will afford such trips.

Colin Kersley, chief executive of the company, noted that there is increasing pressure on people's pension pots and this means early planning for significant expenses is vital.

He made his remarks after a survey by M&S Money indicated 44 per cent of people would like to go on holiday for up to two weeks when they retire, while 38 per cent would prefer to be away for up to one month.

"Irrespective of whether you have aspirations to undertake serious travel when you reach 50 or simply to enjoy two weeks in the sun, these costs all add up," remarked Mr Kersley.

Last week, LV= applauded the government for clarifying the details of unsecured pension reforms, suggesting the state is succeeding in putting consumers' needs first.

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