Brits put Xmas before pensions, expert claims

Wed, 06 Dec 2006

UK residents spend almost twice as long searching for each Christmas present as selecting a pension, according to one expert.

This indicates that many Britons are willing to spend more time planning their festivities than organising their personal finance, states George Andrew, head of market relations at Scottish Widows.

"Our research shows that, on average, we spend more time choosing a Christmas present for someone else than we spend on choosing a pension for ourselves," he remarks.

However, Mr Andrew warns that consumers should not let their financial planning slide - as while Christmas is one good day, sound planning could improve the rest of their life.

The research comes from a Scottish Widows study - titled Preparation Nation - which aims to examine the attitudes of Britons to their financial future.

Scottish Widows offers a pension calculator for customers, warning that making adequate savings in the immediate future, rather than waiting for five or ten years, could have a major impact on the total pot.

"Putting off organising a pension plan is easy to do but it could have a long lasting effect," the company states.


add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Pensions Newsletter

Monthly pensions news, provider info & more.

Transferring a pension

Transferring a Pension

Learn more about pension transfers and enquire about transferring your pension.

Pension Transfers
SIPPs

SIPPs

Read up on Self Invested Personal Pensions and take control of your pension fund.

SIPPs information