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20 Jul, 2010 - As the population ages,
retirement planning becomes mandatory
There
is no getting away from the matter but you will come to the end of
your working life and you will need an income to live on once you
retire.
Over half of those approaching retirement age in the UK are not
properly prepared for their pension and have no idea how much they
have in their retirement fund. As the population ages this puts
extra strain on government resources meaning that you will need to
save for yourself.
If you wish to have a sizeable pension income when you retire you
will need to start saving or paying into a fund as early on in your
life as possible. The longer you leave it, the more you will have
to pay each month to meet your expectations for retirement.
As private sector final salary schemes close, or come under intense
pressure such as BT and BA schemes and public sector pensions will
undergo a reform in order to curb the UK's budget deficit, you will
need to look after your own interests in your retirement years.
The deVere Group provides sounds pensions and retirement planning
services to expats across the world. To see how long you are
expected to live and what this means for your overall pension pot,
take this life expectancy survey
http://moneycentral.msn.com/investor/calcs/n_expect/main.asp.
If you would like further information on pensions and retirement
planning, please click
here.
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