Over-50s confused by pension planning

Pension planning is something which over-50-year-olds are confused about.

Seven out of ten people aged 'over half a century' are worried about the complexity of current tax legislation and rules.

56 per cent of people, however, have not consulted a financial advisor about the best choices which they could make for savings and investments on the route to retirement.

Rodney Cook, LV life & pensions managing director, comments: "Our research shows that there is a massive opportunity for financial advisers in the UK.

"Around 3.5 million pre-retired households are yet to take any professional financial advice, which is worrying as so many people facing retirement admit that they don't understand financial planning rules and legislation."

July 04^th 2008

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