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Survey shows young are concerned about their financial future

The message that the state will not provide a decent level of financial

security in retirement is starting to hit home.

A survey of 1,000 people has revealed that the younger generation in

particular are concerned about the need for good financial planning for the

future.

But when it comes to knowing how long they could live – medical advances

mean this is just around the corner – most would rather not be told.

Over half said they were worried about buying life insurance, with 67 per

cent in the 25-34 age range very concerned that life insurance companies

might discriminate against them if they were told they were to live for

another 10 years.

Even among 16-24-year-olds, almost 60 per cent of respondents were either

very worried or quite worried about getting life insurance.

The findings were part of a UK-wide lifespan poll conducted by independent

research specialist RSGB for FTyourmoney.com.

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Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.

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