Fair Investment Company calls for pension responsibility

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Fair Investment Company calls for pension responsibility

Consumers should take charge of their own retirement plans following the cuts in the emergency Budget.

In the view of Fair Investment Company (FIC), people need to look at their own situations and plan how they will save their money accordingly.

Nick Scarrett, head of investment and pensions at the organisation, explained that people need to be better educated in order to understand what steps they need to take.

He stated that "it has never been more important to look at retirement planning" and adds that a pension is not the only way to create a nest egg.

Mr Scarrett added that Isas, investments and venture capital trusts could all provide the ideal savings solutions for those currently at work.

Prior to the changes announced by the coalition government, FIC had called for there to be more emphasis on the individual planning for people's futures in the face of the growing elderly population.

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