Independent Financial Life Planners Bishop's Stortford: Pensions for teenagers

Wednesday, 28 January 2015

Pensions for teenagers

Enable’s IFA’s in Bishops’ Stortford are delighted that the financial education that has recently been included in the national curriculum is going to be expanded to include lessons on pension planning for teenagers.

The Department for Work and Pensions (DWP) is teaming up with financial education charity the Personal Finance Education Group (Pfeg) to produce new teaching materials to help get more information about financial planning into classrooms and boost saving for later life. These new educational resources which will probably include exercises, worksheets, videos and online content are expected to be ready for September 20 15 and will be aimed at pupils aged 13 and over to start with. The idea is to help teachers to "plan more inspiring lessons about the importance of pension saving".

Pensions minister Steve Webb says: "It's understandable for young people to glaze over when you ask them to think about retirement and pensions. But when you tell a teenager that this is going to affect them from the age of 22, you get quite a different response.” And the new auto enrolment scheme - a relatively new law that requires all employers to automatically place workers in a workplace pension scheme unless they opt out is going to affect everyone in the workplace.

A recent report from workplace pension scheme Nest found that young people are actually leading the way in the pension savings revolution, with people aged under 30 more likely to embrace automatic enrolment than any other age group. Only one in every 20 workers aged between 22 and 29 has chosen to opt out of automatic enrolment, according to Nest's figures. Enable in Bishop’s Stortford can help plan pensions across the board to suit your needs.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

No comments:

Post a Comment

IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.