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Retirement planners told to focus on the later years

More awareness is needed of the importance of managing money in the first 10 years of retirement to be financially sound in the later years, says Life Trust.

Speaking to Money Marketing at the IFA Consortium Key Adviser Forum in Rome, national accounts director Marcus Henderson said too many advisers focus on the early years rather than planning for the later years of retirement.

Life Trust says its product works alongside a pension but is targeted at the later years. Payouts start between 75 and 80 and run for 20 years.

Henderson says increasing longevity further supports the need for long-term planning.

He says: “There are 1.2 million people aged over 85 in the UK. That figure is estimated to double in the next 20 years and triple in the next 30 years. The pillars of support for retirees are not the family, employer or Government for most people, it is up to individuals to provide for themselves.

“IFAs should be looking to help clients balance their short- term income aspirations with the reality of surviving to a much greater age.”


Winners and losers

Christmas is still some way away but for Lloyds TSB it came 12 weeks early this year and CEO Eric Daniels must still be pinching himself about the $12bn deal. Whether preliminary discussions began six weeks ago or not, what is not in doubt is that Lloyds emerges from this as a credit crunch winner and regrettably some HBOS staff may emerge as blameless victims.

Safety thirst

At the end of one of the most tumultuous weeks we have experienced in financial markets, the Financial Times’ Lex column stated on Friday September 19 that investors today are “more concerned about a return of capital than a return on capital”.

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]


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