View more on these topics

Pension planning: think laterally

Most advisers have at one time or another hear the often flippant remark from clients that their house is their pension, especially when rebuffing the suggest that they consider contributing to a pension plan.

Jon King
Jon King

Recent research from Barings Asset Management highlights the depth and extent of this belief and intention amongst the wider public.

Headlines like “4.1m people relying on property as pension” of course generates the necessary interest but also reflects real research which confirms the extent to which the public believe in the concept.

Other aspects include 17 per cent of people questioned confirming that inheritance would form part of their retirement fund. Its hard to imagine that answer 20 or 25 years ago.

The real message underlying this interesting research is the extent to which people are thinking laterally about retirement funding and coming up with more imaginative solutions.

This fits very well with the concept and practice of financial planning at retirement and would suggest a receptive audience.

Despite this, many advisers still feel uncomfortable suggesting alternatives such as equity release, preferring to help with annuities and investments.

For those who have not tried it, test the concept with clients – you may be pleasantly surprised at the outcome.

Recommended

/x/t/q/London_UK_Telephone_Red_Rain_480.jpg

OECD cuts UK growth forecast

The Organisation for Economic Co-operation & Development has cut its growth forecast for the UK, and expects the economy to shrink by 0.7 per cent during 2012. The OECD expects the UK to contract by 0.7 per cent in the third quarter before returning to growth of 0.2 per cent in the fourth quarter of […]

Signs of life for housing market?

It has been a challenging year so far for lenders and housebuyers alike. The economy continues to stagnate and we as consumers do not have an abundance of money with which to buy our dream home. A recovery of any kind, whether economic or in housing terms, is still arguably some way off. However, the […]

Labour wants ‘improved and more effective’ NewBuy

Labour is meeting with builders to explore ways to improve the Government’s NewBuy scheme with proposals expected soon. Speaking at a Westminster Social Policy Forum conference on housing this morning, shadow housing minister Jack Dromey said the impact of NewBuy has been “pretty modest”. He said: “We are meeting with a number of builders next […]

Life cover for life

Jennifer Gilchrist Proposition Lead – Design, Royal London When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that way because before the arrival of RDR in 2013, that’s more […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • anon 10th September 2012 at 4:13 pm

    Come on, stop calling your punters clients – its clear from your piece that its all about selling – “if they dont want this, try this” – dont have an issue with that, but dont keep calling sales prospects clients. Solicitors and accountants have cleints, financial advisors (thats wrong too – salesmen)