Employee Rewards and Benefits News
Saving in pension schemes is 'good' for people
It would be wise for workers to save into pension schemes in order to ensure a comfortable and secure life after retirement, it has been suggested by an industry expert.
Anna Sofat, wealth planner for ADDIDI Wealth, pointed out that pension schemes were a beneficial for people. Pensions offer a 20 per cent tax relief, which is helpful for people in the short to medium term, she added.
However, Ms Sofat acknowledged that people had been hit hard by the uncertainty in the wider economy.
She said: "I think people's confidence has been shaken. The markets have been horrible places over the past few years and people have seen actual values lost so that many are sitting on less than they put in. It's not a good place to be."
Her comments come soon after research conducted by the Scottish Widows found that only 38 per cent of women over 50 years of age were making adequate savings for their retirement.
Posted by Elizabeth Mewes
Please click here for more UK employee pension news.
