NFU Mutual supports pensions calculator change

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NFU Mutual supports pensions calculator change

Fri 14th Jan 2011

A source from NFU Mutual has claimed the scrapping of the default retirement age (DRA) - confirmed by the government this week - will bring benefits for consumers.

Pensions specialist at the company Jane Mulford suggested the reform will give people more of a chance to take control of their finances, particularly individuals approaching retirement age.

She said: "Scrapping the DRA will create greater financial flexibility for those that want to, or feel that they have to, continue working past 65."

Ms Mulford observed that this could be an increasingly vital opportunity for individuals who have not contributed enough into their pension schemes to enjoy a comfortable retirement.

In her view, the DRA forced many people out of work who might otherwise be pleased to continue in their role.

LV= retirement solutions director John Perks echoed her sentiments by welcoming the move, saying the change in legislation will come as a "relief" to a lot of savers.

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