Calls for pension top-ups by ATM
MILLIONS of savers want to be able to pay into their pensions when they use a cashpoint.
Nearly a third of workers said they would like the opportunity to add to their pension when using an ATM, a new study has found.
Almost three in five would be interested in a service that allowed them to check at any time the value of a pension and expected retirement income.
** CLICK HERE TO CLAIM A FREE COPY OF ONE OF OUR MONEY & FINANCE GUIDES **
“Using ATMs to allow people to deposit cheques and cash into their pensions or transfer funds from their bank accounts could encourage millions more to save for their old age and help the UK avoid the looming savings crisis,” said Martin Palmer at Friends Life.
There may be some lessons here for the industry that would allow us to develop solutions that give individuals more flexibility to change their pension contributions.
“There may be some lessons here for the industry that would allow us to develop solutions that give individuals more flexibility to change their pension contributions.
“The industry could also look into using the red button on TV remote controls, effectively bringing pensions into people’s living rooms.
“This might enable savers to investigate how additional top-ups would affect their overall pot or to make contributions from bank accounts.”
