Basics of pensions calculator must be reiterated, says BNY Mellon

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Basics of pensions calculator must be reiterated, says BNY Mellon

Wed 9th Mar 2011

BNY Mellon Asset Management has suggested that the fundamentals of long-term saving need to be reaffirmed to help people understand the pension system.

David Calfo, head of group direct contribution strategy at the company, labelled it "vital" that the finance sector simplifies its communications, so that people can comprehend concepts such as risk.

Research by BNY Mellon indicated that 45 per cent of Brits are not willing to take any risks with their investments, but 45 per cent of these people revealed it is because they do not really understand what this means for their money.

"Our research reveals the sheer scale of the task ahead when it comes to helping the general public in the UK understand the importance of investing for the future," said Mr Calfo.

This month, the firm announced the launch of five specialist investment funds from its global range for UK professional advisors, including options relating to various emerging markets.

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