Defaqto highlights importance of considering pensions calculator early

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Defaqto highlights importance of considering pensions calculator early

Thu 16th Dec 2010

A source from Defaqto has stressed the significance of considering retirement arrangements early on in life.

Matt Ward, wealth management consultant at the research firm, noted that it is vital people put together a pension strategy, but it is equally important that providers make such products accessible.

He made his remarks after the organisation published a study showing 53 per cent of consumers recognise the significance of retirement savings, but just 40 per cent are actually following up with a plan.

"The importance of planning for retirement is paramount, but people appear to be turned off by the idea of saving for their future," said Mr Ward.

In his opinion, companies must respond to the lack of activity among some people and ensure they begin considering their retirement while they are still young.

Defaqto also recently revealed independent financial advisors are the most trusted source of information among consumers when it comes to pensions.

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