Pensions

Would you ever go on holiday knowing you wouldn't have enough money to enjoy yourself? Of course you wouldn't.

Why is it then, when people retire to go on what can be described as the longest holiday of their lives, this is exactly what they're likely to do?

Did you know?

• Almost half of the working people in the UK (45%) are either not saving at all or not saving enough for their retirement. (Source: Association of British Insurers, 2005).
• The Government currently provides a basic state pension of £95.25 a week (2009/2010).

Meaning...

• If you were retiring tomorrow, but had little or no pension savings, you'd be living off nearly £5,000 a year.

If these facts don't get alarm bells ringing then think about this...

Everytime your earnings increase, you quickly get used to having that extra money. If you're not saving towards your retirement now, it's going to seem like a big drop between final earnings and the income you have in retirement. Will it be easy to adjust to having less money?

Secure a prosperous future
Taking action now could make such a difference to your retirement income. You could look forward, with confidence, to spending your retirement years doing your favourite things:

• Going out for lunch
• Taking up a hobby
• Spoiling grandchildren

or...

• Going on holiday

Start planning now
Its important to find out what pension you can expect from the state. You can do this by speaking to your financial adviser. Don't leave it to chance. The sooner you know, the more time you'll have to plan for a happy retirement.

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