Seventy four per cent of respondents agree with His Royal Highness’s statement that “With an ageing population and pension fund liabilities that are therefore stretching out for many decades, surely the current focus on quarterly capitalism is becoming increasingly unfit for purpose.” Only 21% disagreed with the statement.
Andy Kirby, Director at Adviser Home, said:
“Given the current state of the pensions industry and how few people are saving into a scheme, it comes as little surprise to me that the comments made by Prince Charles have struck a chord with advisers. Advisers see retirement planning as a crucial component of the financial advice they give and therefore want to see the system work.”
Kevin Ferriby, Managing Director of Informed Financial Planning, said:
“The number of private sector workers contributing into pension schemes is at an all-time low of 2.7m according to the ONS, compared to 8.1 million at the peak in 1967. This suggests a significant problem in the pensions industry, one that will hopefully be remedied to a large extent by auto-enrolment. Nonetheless anything that brings a healthy debate to pensions, such as the recent comments by the Prince of Wales, is most welcome.”
