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Friday, 10 February 2012 16:43

Thousands of people loose money everyday - National Association Of Pension Funds

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Tony spotted the following extracts from a NAPF report into pensions:

"Thousands of people every day lose 500m to 1bn because they accept annuities that pay far less than they could secure by shopping around, i.e. not cashing in their annuity with their pension provider".

An industry source also commented that "there is no point in encouraging people to save if we do not help them to get the most out of their savings".

Whilst this may appear alarmist to grab headlines, the problem is an important one but can easily be overcome by independent advice. If you think you may be affected or know someone that would be, please contact us for guidance.

*National Association of Pension Funds (NAPF) report 4th February 2012

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Tony Young DipPFS

Tony entered financial advisory services in 1990. Having obtained the Diploma in Financial Planning, he continues to seek excellence through a combination of continuous development and "hands on" experience. Seven years later he started to specialise in the SME market assisting business owners, together with professional and higher net worth individuals. He is passionate about providing independent advice and in 1999 formed Cowan Young Financial Planning before expanding further with the takeover of Underwood Financial Consultancy in June 2008. Predominantly fee based, Tony offers advice through bespoke Wealth Assessment Plans. Clients are then given the opportunity to join a Wealth Partnership Programme which is tailored to their individual needs both now and with regular reviews, into the future.

A past chairman of the Life Insurance Association, Sussex region and a current member of the Personal Finance Society, Tony is also a qualified Life Coach and mentor, actively involved on the committee of his local Diabetes UK voluntary group and a member of the National Landlord's Association. Married with 2 grown up daughters, his interests include keeping fit, reading and music.

You can email me direct here.

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