View more on these topics

TV probe brings home pension truths

Low pension saving among young people is probed in a Tonight With Trevor McDonald programme, to be aired next Monday.

The programme will follow the fortunes in retirement of four young people living in Penny Lane, Liverpool, taking their current level of pension provision and projecting it to their retirement to show what income they can expect. Three of the four people have no pension arrangements but one has an NHS pension.

The four, who all currently have decent incomes and enjoy a reasonable standard of living, are then filmed trying to live on their projected retirement income for a week. None of them was able to live off their retirement income and had to borrow off friends to get through the week.

All four people were surprised at how much it would cost them to pay for the level of income they would accept and agreed that they would have to take action.

Pension consultant to the programme Ros Altmann says: “All four of the people said they do not believe in pensions but when it came to trying to live on what they are projected to get, they could not do it.”

Recommended

&#39Industry watchdog must have teeth&#39

If the industry wants consistency, it must accept the Financial Ombudsman Service&#39s right to establish precedent through its rulings, according to chief financial ombudsman Walter Merricks.Speaking to Money Marketing this week, Merricks says the industry holds contrary views on the issue, saying on one hand that it wants consistency but on the other that it […]

Commercial First launches into all status market

Commercial First Mortgages has launched a new commercial mortgage targetting the UK&#39s SME business community. Commercial First says this new product will enable it to compete directly with high street lenders throughout the UK. The interest rate on the product starts at 2.5 per cent above LIBOR. It has a maximum loan size of £2m […]

Sainsbury&#39s signs with L&G

Sainsbury&#39s has entered a partnership with Legal & General to sell life assurance through its supermarkets. The move marks Sainsbury&#39s first jaunt into non-advised term assurance. As well as through its supermarkets Sainsburys will sell the product on the internet and over the phone. This sees the first time L&G has tied to a supermarket […]

AMI aids brokers in AR dilemma

The Association of Mortgage Intermediaries has started a service to help brokers who want to become appointed representatives with mortgage networks.The FSA&#39s decision not to pre-authorise networks ahead of mortgage regulation has left many brokers unsure which networks to join as ARs.The FSA will publish “minded to authorise” letters following preliminary checks on networks but […]

Europe: why persist with value today?

By Rob Burnett, Neptune’s Head of European Equities The Neptune European Opportunities Fund remains committed to a value bias. We see a broadening array of opportunities in diversified industries at compelling valuations today. The most complicated part of the market is the European banks. We are currently overweight in this sub-sector as many banks are […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com