Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

UK pension plans going wrong due to wrong choices

By Sandra Jeux Subscribe to RSS | February 23rd 2012 | Views:

In a report that was released a few days back there was a shocking revelation that most of the people of Britain would fail to find a suitable deal for them as far as their pension planning is concerned. Due to this they would have to work more by a quarter if they want to have a good income in hand till the time of retirement.

The Pensions Policy Institute, PPI also came out with a report in concern with the National Association of Pension Funds (NAPF), in which it was reported that most of the pension providers are providing only a small percent of 0.3 where the employers who plans to make money on the rate of interest that is almost around 1.5 percent would take the retirement savings up by around 17 percent and not less than that.

In addition to this, when one out of every three person fails to search around for a suitable annuity deal then it leads to the reduction of the income pension by 12 percent. As a result the years of working life gets extended by 2 years. Joanne Segars, Chief Executive, NAPF was of the view that when a person would be able to find a god deal as far as charges and annuities are concerned, then it is going to mean that there would be a clear difference between the retirement and working more by years are concerned. Are you in search for quick funds then apply at short term loans for bad credit @ and get fast cash instantly?

In the report it was shown in quite a clear manner that in what way does that decision of any person taken in regard of his pension plans make an affect how many years is he going to work. A male person earning per year salary of around 20,000 pounds when he is 25 years old is quite possible that would retire in the year of 2055 that is he would be 68 of age. There are around altogether 7 factors which a play a role that the income of a person can triple up on an average as far as his yearly retirement income is concerned. If in 2011 it was 710 pounds then it can go to 2200. Apart from this if a person applies to get pension when he is 30 years old instead of being 40 years of old then he is going to add up 990 pounds in a year to his pension where he would be making the payment of an additional 1 percent as far as his employee pension contribution is concerned.

Sandra Jeux - About Author:
Sandra Jeux is financial advisor and shares her best views short term loans for bad credit @ , short term loans and short term student loans.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Finance Articles Subscribe to RSS

Faulty finance intended to increase values of homes
Published by Sli Dell on March 10th 2012 | Finance
After an allegation of faulty loans on UK banks created a serious problem for them. Specific allegat...
Overcome finance related business issues with a reliable insolvency company
Published by Ashish Pandey on January 16th 2012 | Finance
Any business might go through different kinds of hurdles and when things get out of control it is go...
Debtor finance – general considerations
Published by Adair Sawyer on May 11th 2012 | Finance
Many companies find themselves in the impossibility of further developing their business because the...
Meet all small tasks with ease with short period online finance
Published by Sandra Jeux on March 1st 2012 | Finance
Now don’t bother about urgent cash you need at the time of emergency, apply online with easy short...
Instant Cash Loans: Immediate finance program
Published by Declan Dylan on January 9th 2012 | Finance
Instant cash loans refer to a variety of immediate finance programs which the British people look fo...
Apply and avail the cash required by you with easy online finance
Published by on March 9th 2012 | Finance
Online finance is the proper platform of getting funds when you are empty handed. So do not think mu...
Cash Loans No Credit Check Canada: Alleviation of finance crisis
Published by Lily Jacobs on March 12th 2012 | Finance
Cash loans no credit check Canada are an ideal option available to the salaried people of Canada to ...
Solve many of your problems in a while through quick finance
Published by John Harry on February 18th 2012 | Finance
Easy finances through financers help an individual to fight with the devils of unexpected expenses. ...
Get easy finance for your new business venture
Published by on January 21st 2012 | Finance
Do you want to start your own business, which requires funds but don't have idea on how to arrange t...
Personal finance can be fun - Saving money in this tight economy
Published by Sandra Parker on January 23rd 2012 | Finance
In a tight economy it can become hard for you to save money. But, in actuality if you give importanc...
Quick Text Loans- astonishing opportunity to obtain finance quickly
Published by Calvien Peter on November 30th 2011 | Finance
Quick Text Loans are enormous funds that are availed to candidates on sending an easy text to your a...