UK Money News
22nd January 2008
Early pension planning "vital"
Earlier pension planning is vital for anyone aiming to secure a comfortable level of income in retirement, according to one personal finance expert.
Rob Lay, head of European sales at Baring Asset Management, has suggested that an increasing number of British consumers are mistakenly convinced that they will be able to retire at a relatively earlier age.
Many people are struggling to contribute to a pension because of trouble with debt and recent research by Barings has found that more than nine million Britons are yet to start saving for retirement.
"People have to start taking a more proactive approach to planning for their retirement," said Mr Lay.
"It is absolutely vital for people to start considering how best to build their pension fund from the day they start working."
In other personal finance news, the Building Societies Association recently announced that its members received a record amount of savings cash as deposits over the course of last year.
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