Savers concerned about putting aside money for their future should consider researching pension savings accounts online, one expert has recently said.
As older Brits approach their retirement age, many begin to look into savings options from personal and business bank account providers such as fixed rate bonds as a supplement to their pension income. Pinsent Masons partner, Robin Ellison, stated that those looking for more details concerning such savings options should go online in order to conduct more research.
The expert remarked that the internet is an excellent tool for many Brits to research options in regards to pension savings. However, the partner cautioned that consumers do need some awareness that not everything they encounter during the course of their research will be too good to be true.
Recently published research from banking giant HSBC found that a generation of Brits will face a financially difficult retirement because they have poor pension saving habits. Despite this, another research study from Halifax found that older women are more solidly in control of their financial arrangements than their younger counterparts are.
The Halifax study found that 64 per cent of the 65 and older crowd make smaller decisions regarding financial matters than those significantly younger. Only 32 per cent of women aged 18 through 24 were found to make similarly sized decisions, said the survey.
The research findings also indicated that 41 per cent of more mature female respondents will also assert control in regards to the handling of significantly larger outlays. Meanwhile only 24 per cent of the younger age group were found to act in a similar manner on large purchases such as new cars.
In related news, Credit Action spokesperson, Joanna Parsley, remarked that the savings of many families are currently dwarfed by their outstanding debt commitments.