Financial news categories
Financial news archive
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
People need to concentrate on pensions not property
24 June 2008
People should invest money in their pension schemes rather than in property, according to financial analysts.
A British obsession with the housing market has meant that the majority of people have favoured investing in property compared to contributing money to their retirement fund, claims IFG Financial Services.
Donna Bradshaw, a financial planning strategist with IFG Financial Services, said: "Every where you look for the past five years or so it's been house prices, house prices, house prices – it's been a bit of a national obsession."
With more people moving jobs than ever before and legislation making pensions seem unattractive, British employees have been unwilling to save, a move which could have negative consequences for their retirement.
"We've moved away from the final salary schemes in favour of defined contribution schemes, for which the contribution levels have often been lower," said Ms Bradshaw.
Research by Nationwide revealed that while 74 per cent of consumers think saving is important only 50 per cent save on a regular basis.
