Daniel Stansall, Barnet ifa – why you should regularly save into a pension

Tuesday 18 October, 2016

Daniel Stansall, independent financial adviser in our Barnet financial planning team said: 

‘Recent figures from the Money Advice Service confirm that many people living in the UK have very low savings, and are not saving for their retirement.  At Lonsdale Services we recommend regularly saving as soon as possible.  If you save into a pension scheme you will be able to receive tax relief on your contributions.’

Money Advice Service figures confirm low savings rates for some people

Recent figures from the Money Advice Service (MAS) confirmed that more than 16 million people living in the United Kingdom have savings of less than £100.  Over half the adult population in five areas of the country – Northern Ireland, Yorkshire and Humberside, West Midlands, North East England and Wales have savings below that level.

Daniel Stansall, independent financial adviser, Barnet, North London said:

 ‘Young people in their twenties are finding it particularly hard to save money at the moment, as there are competing demands on their income.  However, the long-term statistics prove that the sooner you start investing for your retirement the more chance you have of building up a sizeable pension.  At Lonsdale Services we offer a range of free material to help people understand why they need to begin financial planning as early as possible. We have our retirement guide which provides information on what to do with your finances at different stages of life.  We also offer free financial planning seminars.’

For more information on saving for your retirement read Daniel Stansall’s – What to do when you are a long way off from retirement.

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