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Retirement savers should 'consider options'

21 January 2008 / by None
People saving for retirement should consider their saving and investment options carefully according to the The National Association of Pensions Funds (NAPF).

While the workplace pension is still seen as the "main option" the group states that there are still other avenues which should be considered such as investment into equities, savings accounts and property.

Commenting on the problem that many people are not saving enough toward their retirement, Mark Brooks, spokesperson for the NAPF, said: "People, if they can, should look at a number of options when looking to save, especially if they can benefit from the pensions tax relief available".

He added that while an increasing number of final-salary pensions are now closed to new members, over 37,000 schemes are still open in the public and private sector.

The NAPF annual survey, which covered the allocation of assets by 307 pension schemes, recently revealed that the schemes continued to diversify their assets in 2007.

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