Pension calculator 'can help Brits beat inflation'

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Pension calculator 'can help Brits beat inflation'

Thu 7th Apr 2011

Using a pension calculator to ensure investments are beating inflation at present could be a smart move for Brits, it has been claimed.

Financial expert David Kuo of The Motley Fool said people need to be receiving at least a five per cent return on their savings in order to stave off inflation in the present financial climate.

"Inflation is going to eat away at your savings, so you have to ensure that whatever long-term savings you have are properly invested in inflation-beating products," he commented.

Mr Kuo added that perhaps the only savings vehicles that are guaranteed to beat inflation at this level over the medium term are property or shares.

Elsewhere, Martin Palmer, head of corporate pensions at Friends Life, recently noted that new government proposals regarding a flat-rate retirement income have been introduced at the right time to help the public understand better their present pension situation.

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