Better pension communication to reduce debt problems?
Better pension communication to reduce debt problems?
- Monday, 30 November 2009Increased levels of communication are needed if the benefits of pension schemes are to be properly conveyed to UK workers, it has been suggested.
The National Association of Pension Funds (NAPF) suggests people need to be better informed about the usefulness of saving for retirement.
An increase in pension education could have a direct impact of the number of people coming to rely on
debt advice later in life, with more people better prepared and financially secure.
Mark Brooks, a spokesperson for NAPF, said the widespread conception that pensions were unaffordable needed to be addressed.
He commented: "The biggest hurdle to overcome is that people believe that they can't afford to make the contributions and therefore more needs to be done to highlight the contributions made by an employer."
Mr Brooks went on to say the government had a particular duty to increase pension awareness.
According to the Chartered Institute of Personnel and Development (CIPD), there has been an increase in the number of people planning to work beyond the default retirement age.

Recent Debt Management Plan News
56% of Brits have no life insurance which could leave family with debt problems
Wed, 04 May 2011More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with
debt problems when they die...
Brits thinking about retirement advised to seek debt advice
Tue, 03 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future...
Brits planning to attend a wedding should start saving to avoid debt problems
Thu, 28 Apr 2011Consumers concerned about getting into
credit card debt to pay to attend a wedding may want to use their savings instead...
Couples planning their big day can avoid debt problems by negotiating a cheap wedding
Wed, 27 Apr 2011Couples-to-be worried about needing
debt advice in the future after paying for a wedding can ensure they avoid accruing
debt problems by negotiating a cheap wedding...