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Colonial to host pensions seminar

Thinking ahead: Colonial will hold a seminar on Thursday to give advice on pensions and retirement planning

Insurance firm Colonial is to hold a pensions seminar. The event is designed to help people plan so they have enough to live on when they give up work.

Laurie Daniels, customer service manager at Colonial Pensions, said: “People have to ask themselves some questions about their retirement plans and need to start taking it seriously. Putting off retirement planning may lead to problems later.

“As we know, it is mandatory to invest 10 per cent of a person’s income in a pension scheme, but as we live longer, is that going to be enough? Statistics show that women outlive men and if the male partner dies, will the female partner have enough to live on?

“On a daily basis, we speak with retirees who are heavily reliant on the private pension and Social Insurance to sustain them, and in many cases it is not enough. We want to get the message out for people to start early and save regularly in order to have a comfortable retirement.”

The free event, which includes a presentation by Vanguard, one of the world’s largest investment companies, will be held on Thursday at the Earl Cameron Theatre in Hamilton’s City Hall between 5.30pm and 8.30pm.