AEGON suggests simple savings rebuilding measures

AEGON, one of the world's leading insurance groups, has urged the government to take a fresh look at the incentives on offer for people looking to access the best savings rates to provide for their future.

Research carried out by the firm suggests that the current savings system isn't working as effectively as it could be.

The company claims that low awareness, complexity of the financial products on offer and the lack of trust that the current incentives will change.

AEGON also believes that the current system is failing to overcome the traditional view that investing in property is the safest and most sensible financial option when looking to save for retirement.

Otto Thoresen, AEGON UK chief executive, said: "All commentators agree that the UK faces a chronic level of under-saving and that more needs to be done to help people fund their retirement years."

A recent survey carried out by Lloyds TSB found that Brits are collectively planning to save an extra £620 million in the next 12 months.
 

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2011-01-21 15:45:08 © Moneyextra.com