ABI: People need pensions - ABI launches new consumer guide

ABI: People need pensions – ABI launches new consumer guide

ABI: People need pensions – ABI launches new consumer guide

The ABI has produced a consumer leaflet, People need pensions, to answer some key questions about pensions and annuities in the context of the current economic circumstances.

Consumer confidence will be crucial in helping the UK pull through the recession and on to future success. Long-term savings products, including pensions, have suffered due to stock market falls, and that has had a knock-on effect on confidence. The ABI’s leaflet is designed to address all these issues.

People need pensions will be published on the ABI web site, sent to member companies, AIFA and consumer groups for use in any relevant customer communications, and to MPs to help them deal with constituents’ queries.

Maggie Craig, the ABI’s Director of Consumer Strategy, said:

“People need pensions answers some key questions that people may have about their pension savings in the recession. It explains that pensions are a long-term product and gives reassurances that they are still an excellent option for long-term retirement saving, particularly because pension savers get free money from the Government and possibly from their employer in return for saving. It also gives information about annuities to help consumers get the best value for their money.

“In these difficult economic times, it is especially important that people make the right decisions about their finances, now and in the future. Saving for retirement is crucial both for individuals, as it helps to ensure they will have a more comfortable retirement, and for society, as it reduces the burden on future generations of taxpayers.”

Notes

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK’s capital. They are the risk managers of the UK’s economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.

3. People need pensions can be downloaded from the ABI web site, www.abi.org.uk.

4. An ISDN line is available for broadcasts.

5. More news and information from the ABI is available on our web site, www.abi.org.uk.