Oct 8 2008
Final salary pension schemes are coming to an end in the UK, according to one industry practitioner.
Commenting on the issue, Malcolm Cuthbert, managing director of financial planning at Killik & Co, said that we are in "the death throes" of such schemes.
The expert went on to say that, as a result of this and with the value of state pensions being eroded, it is important that consumers make plans for their retirement.
He said: "It's more important than ever before that people take responsibility for themselves and I think that imagining that this problem is going to go away or any of the other excuses people come up with is just crazy."
Research conducted by Killik & Co suggested that 60 per cent of people with a pension fund do not know how much they have in their investment, while half of those with a pension never check its performance.
