Pension calculator users 'should get financial advice to maximise returns'

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Pension calculator users 'should get financial advice to maximise returns'

Defaqto has encouraged pension calculator users and other savers to speak to a financial adviser to maximise their returns.

According to David Abbis, an analyst at the financial research company, many people have funds building up in several different pension pots.

However, he believes that these people could be missing out on ways to get more for their money.

For instance, he suggested that consolidating the money in different pension pots into a single plan could be "a wise move to consider".

"Planning can then be made towards retirement, with sensible investing and monitoring hopefully resulting in better performance," Mr Abbis commented.

This comes after Scottish Widows revealed that only 38 per cent of women aged over 50 are making sufficient provision for their retirement.

The firm said this is because many have become "resigned" to staying in employment during their 60s and experiencing a large drop in income when they stop working.

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