M&S Money urges older people to focus on retirement calculator payments

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M&S Money urges older people to focus on retirement calculator payments

The importance of saving for retirement has been lauded by a representative from M&S Money, who said it is particularly vital for older people.

Colin Kersley, chief executive of the organisation, pointed out that pensions have dominated the headlines in recent months.

In his opinion, savers should respond to this by checking they are putting aside enough to secure a comfortable retirement.

He said: "It is of utmost importance that people of all ages are saving and planning for retirement, but even more so for those who are approaching this stage in life."

Mr Kersley's comments follow research by M&S Money showing 47 per cent of over-45s are not saving anything for when they retire.

The study showed that even among those people who are putting aside money for when they finish working, there are plenty who do not utilise their full Isa allowance.

Last month, the firm unveiled research showing that 72 per cent of financial products are owned by women.

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