Company pensions praised in financial services podcast

Fri, 23 Mar 2007

Employees across the UK have been urged to "wake up and smell the coffee" by joining company pensions wherever possible, it has been revealed.

In a podcast, Adrian Boulding, wealth policy director at financial services provider Legal & General, claimed that approximately three million people have so far failed to take advantage of the company pensions on offer to them.

Moreover, he has suggested that people who are dawdling over the issue of taking out company pensions should join immediately or risk regretting it when they are struggling to make ends meet from their old age pension.

And Mr Boulding also took the time to explain why company pensions typically proved better investments than alternatives such as a personal pension.

"You will probably have to pay a contribution yourself to join the scheme, but the employer contribution will typically double your money," he made clear.

"So use your employer contributions now and later in life you'll be truly glad."

Typically, people who work within the UK qualify for entry to a basic state pension.

However, most pension advisers urge workers to contribute towards a private pension scheme as well in order to furnish themselves with a more comfortable retirement.

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