It has long been widely accepted that people in the UK do not save enough for their retirement.  In fact, in a survey carried out by Standard Life last year it was revealed that 1 in 5 people in the UK are not saving anything towards their retirement.

This shocking statistic on its own should be enough impetus for raising awareness that the financial future for some of the British public is under threat.

Pension Awareness Day is a week-long campaign held every year with the aim of bringing the topic of saving for retirement via your pension to the forefront of the public’s minds.

Officially taking place on the 15th September each year, Pension Awareness Day was created by the pensions communication company Pension Geeks (yes that is their name).  The campaign was devised with the unique plan of having a specially designed bus travel the length and breadth of the country delivering the message that people should be saving more for their retirement.

The idea of the “Pensions Bus” is to allow members of the British public to climb aboard and pose questions they want answers to with regards to their pensions.  This year, the campaign is being organised in association with pension and investment provider Scottish Widows, and the bus will house a guidance team who will be on hand to provide information and guidance free of charge to attendees.

There are no restrictions on the types of queries that can be raised with either the bus guidance team or by asking your Financial Planner; whether you are contemplating commencing contributions to your own pension, or nearing your selected retirement age and want to know your options, you are encouraged to share your questions and concerns relative to your own situation.

Examples of issues commonly raised during previous Pension Awareness Day campaigns are:

• No idea what “Pension Freedoms” means to you and your situation
• Unsure when you will receive my State Pension, and how much you will be entitled to
• Concerned that your Employer has not yet set up an Auto Enrolment Scheme
• You’ve opted out of your Employer’s Pension Scheme and want to discuss it

These are all perfectly sensible questions or concerns posed and ones which can be tackled by visiting the bus or asking your Financial Planner.

The Pension Awareness Day campaign runs from the 12th to the 17th September this year, stopping in the following cities:

• Monday 12th September – Edinburgh
• Tuesday 13th September – Birmingham
• Wednesday 14th September – Leeds
• Thursday 15th September – Liverpool
• Friday 16th September – Bristol
• Saturday 17th September – Brighton

For further information relating to the Pension Awareness Day, tune into the Pension Geeks twitter feed, where they provide updates and information frequently, or search on twitter for #PAD2016.

If you would like to discuss anything contained in this article, please contact a member of our Wealth Team by email on enquiries@jcwealth.co.uk or your usual local office Financial Planner.

Nothing in this communication constitutes advice to undertake a transaction and professional advice should be taken before investing. Any observations are purely commentary on markets.  This material is not investment research and the content should not be treated as an offer or invitation to buy or sell securities. Past performance is not a reliable indicator of future results and is no guarantee. The value of investments may fall as well as rise. Changes in exchange rates between currencies can cause investments or income to go up or down.

Disclaimer: While all possible care is taken in the completion of this document, no responsibility for loss occasioned by any person acting or refraining from action as a result of the information contained herein can be accepted by this firm.