Pinsent Masons says retirement calculator planning is challenging

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Pinsent Masons says retirement calculator planning is challenging

Tue 12th Apr 2011

People preparing their retirement savings plan have been offered sympathy by a source from Pinsent Masons, who suggested it is a real challenge for individuals to stretch their resources over a long period of time.

Robin Ellison, a partner at the law firm, explained that most savers will live for five or ten years longer than their parents, which complicates the planning process.

He said: "Hardly anyone appreciates how long they are going to live; most of us think we are going to live as long as our parents did."

Mr Ellison's comments were made following the release of a study by M&S Money showing 47 per cent of over-45s are not putting anything at all aside for their retirement.

Chief executive of the financial institution Colin Kersley urged people of all ages to recognise the importance of saving for the future and suggested Isas could help them do so.

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