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Institute of Actuaries calls for pensions deferral

People should be able to defer pension contributions while they are committed to raising children and paying off their mortgages, according to the Institute of Actuaries.

It says many people could be driven into debt by saving too soon and pensions need to accommodate “cash rich” and “cash poor” periods.

A study by the Institute found people should save in their 20s for when they may have a family and to save for a pension once their children have left home.

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Lives: Beachely, Near ChepstowBorn: September 23, 1939 in Heywood,LancashireAge: 62Education and qualifications: Apprenticeship, technical colleges in Kent and Lancashire, chartered engineerCareer to date: Engineering then management position in the paper industryCareer ambition: “Don&#39t know that I really had one…”Life ambition: “Again, don&#39t think I have one.”Likes: Intellectual challenge, variety, squash, travellingDislikes: “Gross injustice – it […]

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