AXA pensions calculator expert joins reform debate

www.moneynews.co.uk > Pensions calculator > AXA pensions calculator expert joins reform debate

AXA pensions calculator expert joins reform debate

Wed 2nd Mar 2011

Having early access to the funds saved in as part of a pensions calculator scheme should not be a national priority, according to AXA.

Mike Morrison, head of pensions development for AXA Wealth, said he feels pension capital should be preserved until retirement first and foremost, even if the individual is suffering from personal hardship.

He explained that he cannot see how withdrawing funds early will help to alleviate the on-going pensions savings crisis.

"Many people are not saving enough money into their pensions as it is, without taking some of that money out early. Early access would not readily appear to be a solution," Mr Morrison added.

In many cases the money saved in a pension pot is unlikely to be enough to cover what a person would need the cash for earlier in life.

Fidelity Insurance recently called for pensions to be tied more closely to Isas, as it stated this would allow early access to funds, without complicating the savings process.

Click here for more pensions calculator news 

Related News : Pensions calculator
	Pension savers reach record low
	Brits 'should be able to save at ATMs'
	High earners pension tax relief to change
	Pensions 'are still confusing for many'
	EU proposals could damage UK pensions
	QE 'has negative impact on pensions'
	TUC advises on boosting pensions savings
	Delaying retirement 'significantly boosts pensions income'
	Pay freezes 'set to continue'
	Brits 'must be increasingly resourceful'

Related News : AXA
	Co-op announces banking improvements to premier accounts
	Economic confidence among over-50s at rock bottom, claim AXA
	AXA expert unsurprised by retirement calculator decision
	AXA highlights potential pensions calculator opportunity
	AXA questions IDS pensions calculator claim
	Axa retirement calculator expert highlights timescale of reforms
	Three pension calculator recommendations proposed by Axa
	More education could increase use of retirement calculators, says Axa
	Pension calculator provider Axa criticises government policy
	AXA - Using retirement calculator can ease mental stress