Nearly everyone has retirement calculator worries, says Pinsent Masons

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Nearly everyone has retirement calculator worries, says Pinsent Masons

Wed 17th Nov 2010

Very few people are not worried about whether their pension will afford them a comfortable retirement, a source from Pinsent Masons has noted.

Partner at the law firm Robin Ellison suggested individuals employed in the public sector are probably not as concerned about the issue.

He recommended people getting close to retirement age should begin thinking about how they will fund their life as a pensioner.

Mr Ellison said: "Anyone close to ten to 15 years from retirement needs to plan to work another ten years, in some way, if not in their existing job."

In his view, pensioners can adjust their finances by spending less or downsizing to a smaller home.

The Pinsent Masons representative pointed out that another option is for individuals to work for longer.

A recent study by Metlife Europe showed 64 per cent of over-50s either believe they do not have enough savings put aside for a comfortable retirement or are not sure.

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