Nov
26
2010
Company umbrella contractors 'leaving pension saving too late'
Posted by Daniel Frost
Too many contractors with umbrella companies choose to leave saving for a pension until later in their lives.
This is the view of Keith Churchouse, director of Churchouse Financial Planning, who warned that those who opt for this option stand to fall short of the income their need to lead a comfortable retirement.
He believed that there are a number of reasons accounting for this attitude in company umbrella contractors, with education being one of them.
In Mr Churchouse's opinion, there are those who believe that the state will care for them once they reach the age to retire, while others think that only after they pass the age of 50 is it a good time to save for a pension.
He added: "It is also apathy. Sadly, the pensions industry has seen many bad news stories over recent years and a lot of people have shied away from them."
The comments follow on from findings by the National Association of Pension Funds recently, which revealed that 44 per cent of employers thought that pensions are the best method to save for a retirement.
Too many contractors with umbrella companies choose to leave saving for a pension until later in their lives.
This is the view of Keith Churchouse, director of Churchouse Financial Planning, who warned that those who opt for this option stand to fall short of the income their need to lead a comfortable retirement.
He believed that there are a number of reasons accounting for this attitude in company umbrella contractors, with education being one of them.
In Mr Churchouse's opinion, there are those who believe that the state will care for them once they reach the age to retire, while others think that only after they pass the age of 50 is it a good time to save for a pension.
He added: "It is also apathy. Sadly, the pensions industry has seen many bad news stories over recent years and a lot of people have shied away from them."
The comments follow on from findings by the National Association of Pension Funds recently, which revealed that 44 per cent of employers thought that pensions are the best method to save for a retirement.