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39 per cent have no private pension provision says survey

Only 10 per cent of adults expects to be able to live on the state pension alone, but 39 per cent have made no additional provision for their retirement, according to research from HSBC.

The bank surveyed a representative sample of 1,004 UK adults in August 2001 which also revealed that 63 per cent of people expect the state pension to be worth less in real terms when they retire.

Head of life, health and pensions Harpal Karlcut says: “Few people expect the basic state pension to give them a comfortable lifesytle in retirement, but our research shows an alarming number of people still have no other pension arranged.”


CGNU sees pensions sales grow

CGNU wrote new business worth £10.4bn in the first nine months of this year, with £5.3bn of business in its UK life and pension arm.Sales of stakeholder pensions were worth £120m since their introduction in April, but CGNU&#39s ovevrall UK pension sales were up 37 per cent to £1.9bn for the first nine months of […]

ABI claims that IFAs want quality marks extended

IFAs would like to see the ABI&#39s Raising Standards quality mark extended to mortgages and financial advice, according to a survey conducted by the ABI&#39s for its Saltr initiative.The research with 21 IFAs was undertaken early this month and revealed more than 76 per cent – 16 of those surveyed – said where there is […]

L&G wants compulsion on occupational plans

Legal & General says the Government should reintroduce the right for employers to insist that staff join the occupational pension scheme.The ability to compel employees in this way was scrapped in April 1988 amid concerns that increasingly mobile employment patterns meant it was no longer beneficial to force individuals to save with an employer.But L&G […]

Resolve offers review reassurance

Consultants and actuaries The Resolve Partnership is setting up a specialist decommissioning service this week to help IFAs preparing to enter the final leg of their pension misselling reviews.The service aims to provide an independent analysis of a firm&#39s review and work with in-house staff and advisers to ensure it meets the FSA&#39s stringent requirements […]


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