In the UK, more people are becoming aware of the need to get a pension, and many of them are taking action as a result.
Many of the UK’s independent investment advisors have seen a rise in people coming to them for advice about building up a pension. A significant number of them are private individuals who have realised that they have not made adequate provision for the future of themselves and their families.
Over the past year or two there have been numerous stories about changes to the State Pension. Many of these stories have alarmed UK residents. They have made them realise just how little they will get from their state pension, and that maintaining their standard of living will be impossible once they give up work. The fact that they will have to wait longer to get that pension has also focused many people’s minds. They have realised that unlike the baby boomer generation they are very unlikely to be able to retire early.
However, the biggest lesson they have learnt.over the past few years, is that entitlement to a state pension can change almost overnight. Over the past few years, the government has announced that, in future, pensions will be based on personal contributions. For many women this is a radical change, married women without children, who have not worked much, could easily find themselves without entitlement to a full pension. Add to this the realisation that they cannot rely on cashing in on their property, or their care being paid for by the state and, unsurprisingly, many people have become very alarmed about their financial future.
Independent investment advisors Benefit from this change in attitudes
Unsurprisingly such a harsh reality check has led many people to seek help from independent investment advisors like James Sharp. They know that firms like these, who have been helping people, organisations and companies, for decades, is invaluable. This firm understands how to make long term investments, that are low risk, yet flexible enough for the demands of modern investors. It is surprising how much can be achieved even for those who do not have long to go before retirement, so they expect demand for their advice to remain high over the next few years.
James Sharp & Co
The Exchange, 5 Bank Street
Bury, Lancashire, UK
Zip: BL9 0DN
Tel: 0161 764 4043