Retirement calculator issues worry public, finds first direct

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Retirement calculator issues worry public, finds first direct

Tue 4th Jan 2011

Research by first direct has indicated the British public are concerned about how much money they have put aside for their retirement.

A study by the financial services provider showed that 37 per cent of adults in the country regret not saving for their pension earlier.

Richard Brown, senior savings product manager at the company, highlighted how the amount of interest accrued on retirement funds increases the longer individuals save for.

"Ensuring that you plan ahead with your finances is extremely important and starting to save for retirement as early as possible allows a better standard of living later on," he noted.

Another area of the same first direct report demonstrated that 80 per cent of the public are not happy with their current levels of pension provision.

Last month, the company urged people to switch to a cheaper mortgage to help cushion the financial blow from the VAT hike and overspending during the holidays.

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