Saga pensions highlights importance of protecting retirement income

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Saga pensions highlights importance of protecting retirement income

Tue 15th Jun 2010

It is vital that individuals protect their retirement from the effects of inflation, says Saga pensions, with escalating annuities potentially offering a buffer against such economic factors.

Andrew Goodsell, executive chairman of the Saga Group, noted that people can afford lead a more comfortable life when they retire if they are able to keep up the value of their pension savings.

"Maintaining the buying power of pension income in retirement is incredibly important in helping people enjoy their lives," he remarked.

The Saga pensions spokesperson suggested that escalating annuities could provide people with "peace of mind".

Research by the firm suggests that individuals could be £614 better off each year by investing in such products compared to fixed annuities, which could lose their purchasing power significantly over the space of ten or 20 years.

This week, Saga urged its customers to be careful with personal possession left in their cars, after the organisation found that 32 per cent use sat-nav systems.

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