Young urged to begin retirement planning
Britons should start planning for their retirement as early as possible, a top financial planner has suggested.
Keith Churchouse, director of Churchouse Financial Planning, said today that under-30s can make a ’huge difference’ to their retirement income by putting aside as little as £20 per month.
The comments come in the wake of latest official labour market figures, released earlier this week.
According to the report, unemployment rose to 2.43 million over the three months to June, with the young particularly hard hit by job losses.
Meanwhile, YouGov research for Foster Denovo has shown that almost one in three 25 to 44-year-olds have yet to make any provisions for their retirement.
Mr Churchouse said: ’Below 30 year-olds are having a tough time at the moment. Pensions seem to be the last thing on their minds.
’Pension funding only takes two things; one is money and one is time. Even if they are paying in £20 or £30 per month into pensions, it really makes a huge difference to start early.’
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Wednesday 30 September 09
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