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12-Feb-08 10:08 [Pensions]
Consumers should 'start thinking about pensions' Consumers should start thinking about putting money aside for the future through pension schemes, according to Halifax.
The bank has said that people who are thinking of putting aside savings for the future should think about what they are doing it for and it is always good to save for the long term.
Jason Clarke, spokesperson for Halifax, said: "It's worth thinking about long-term savings in terms of pensions – it's worth having some of that in cash. It won't always be the best performing in terms of return but it will be one of the safest".
He added that the best thing to do is to "decide what you want from your savings".
Research from Age Concern has revealed that the number of people who are over the pensionable age is set to increase from 11.4 million in 2006 to 12.2 million by 2012. It also revealed that the number would reach 15.3 million by 2026.
The use of company pension schemes is "vital" if a person wants to enjoy a top standard of living upon retirement, it has been stated.
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A recently-published study has noted that employee happiness is more dependent on a person's wage in relation to contemporaries and workmates than absolute pay.
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Final salary benefit pension schemes are to see a greater fall soon, with a growth in scheme closures to existing members as large employers look to lose their remaining liability, it has been revealed.
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