Santander calls on consumers to address retirement calculator issue

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Santander calls on consumers to address retirement calculator issue

Mon 7th Feb 2011

Consumers have been advised by Santander to start saving for their retirement as early as possible.

Director of savings and investments at the firm Reza Attar-Zadeh made his remarks after the company revealed that the period between when a person finishes paying off their mortgage and starts taking their pension is getting shorter.

He observed that this amount of time has more than halved since the 1960s and people need to start putting aside more cash at an earlier age to prevent the pattern from becoming a problem.

"For many people the period when they are still in employment but mortgage-free represents a golden opportunity to get some cash in the bank in preparation for retirement," said Mr Attar-Zadeh.

Santander recently launched a new set of investment products for consumers keen to make their capital grow.

The range included issue 41 of its Growth Plan and issue 5 of the Stockmarket Bond.

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