Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
London, UK (PRWEB UK) 16 June 2014
An article recently published by the financial website The Motley Fool suggested that the global economy is starting to show signs of recovery from a long and drawn-out recession. As a result, Pryce Warner International Group says an increasing number of imminent retirees, who perhaps once felt incapable of realising their personal aspirations for an early retirement, are attempting to support their state pension provisions by making enquiries into overseas pensions.
With more than half of all British retirees now saving an extra £130 per month for retirement, the impact of austerity measures is noticeably diminishing and fewer people now say they will try to find employment that would allow them to earn extra income during retirement. Many pensioners are also discovering the benefits of private pension planning, which can help facilitate early retirement by making their assets produce higher levels of income.
Although the average person is now said to have more than £30,000 in savings and investments, many more people are using less traditional investment vehicles and asset management tools to increase their returns and improve their financial position. The unappealing prospect of having to secure a secondary source of regular retirement income is becoming far less imperative as the asset performance of many retirement strategies is designed to improve an account holder's finances.
David Retikin, Director of Operations at leading overseas pension provider, Pryce Warner International Group, spoke of the appeal of overseas pensions and the advantages they present:
"This perhaps applies to British retirees more so than all others, but more and more people who want to realise an early retirement are starting to learn that QROPS (Qualified Registered Overseas Pension) and similar overseas pension products are very effective and hard to beat. Those who thoroughly investigate their retirement options soon come to realise just how much more pension income they could regularly access using a QROPS. Beyond purchasing a place to call home, retirement planning should be made a priority but sadly, this is seldom the case."
Upon reaching the end of their careers, retirees deserve to make informed financial decisions. Workplace pensions are often outperformed by professionally managed private plans that present international savers and investors with higher growth rates and a wider scope for income withdrawal. Professionally managed assets and investment plans that are both time and cost-effective can achieve higher rates of growth and improved income for account holders.
Read the full story at http://www.prweb.com/releases/QROPS/pensions/prweb11939208.htm