Retirement calculator funding issue discussed by Ark Financial Planning

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Retirement calculator funding issue discussed by Ark Financial Planning

Wed 20th Apr 2011

An expert from Ark Financial Planning has pointed out a number of issues that make the pensions funding issue ever more difficult for the government to resolve.

Philip Perry, co-founder and financial planner at the company, noted that people are living longer, yet couples are often waiting longer to have kids or not having them at all.

In his view, this, along with the number of individuals not contributing to the state because they are not working, has led to the long-term health of the pensions system being put in danger.

He explained that it opens up a significant gap between the number of people funding retirement income and those receiving such payments.

Mr Perry said: "I think what you have seen over the last number of years is the government's understanding that there is insufficient funding available to sustain people in retirement."

This week, the government opted against introducing early access to pensions savings, a move applauded by various companies including AXA.

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