People 'need to understand pensions'

Money News

www.moneynews.co.uk > Pensions > People 'need to understand pensions'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

People 'need to understand pensions'

People need to understand their pensions so that they know what they are getting out of them and also what is at risk, says a pensions expert.

Dr Ros Altmann, an independent sector commentator, commented that the National Association of Pension Funds (NAPF) Pension Quality Mark is a good idea, but that there are different schemes that are better suited for different people.

She pointed out that the Pension Quality Mark does not give any extra advice about how well suited that scheme is to the person in question.

However, Dr Altmann stated that if it makes people take notice then that is a start.

"Anything that we can do to help people understand the value of saving for the long-term period and getting an employer contribution is good," she said.

Dr Altmann noted that it is important that savers note the risk with products such as defined-contribution schemes rather than seeing the Quality Mark and assuming they are the right choice.

The NAPF claimed that the scheme will allow employers to show evidence of the quality that they are offering employees.

Click here for more pensions newsADNFCR-323-ID-19373479-ADNFCR

Related News : Pensions

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet