---- ADVISON INDEPENDEN-T FINANCIAL ADVISERS brings you Finance Matters Self Employed continuing to under prepare for retirement June saw the publication of the latest Scottish Widows Retirement Report and as ever, this threw up a number of interesting findings. The repo is based on independent research carried out by YouGov in a survey of over 5,000 UK adults. For many years now the changing demographics in the UK has raised concerns over the level of savings people will have to fund longer retirements. It is therefore pleasing to see in the repo that there has been a marked increase in those who are saving adequately, from 45% in 201 3 to 53% in 201 4. This is also the highest level for 5 years. However, as is generally the case, this overall figure hides some distinct variations amongst d ifferent groups. The highest level of adequate savings was amongst public sector workersat64%.Thisisalmostcertainlyduetotheextremelyvaluable pensions that they build up automatically through work. In contrast, private sector workers had an adequate savings level of 48%. The most worrying figure though comes when looking at the Self Employed. Within this group, the level of adequate savings was just 33%, nearlyhalf of the figure for public sector workers. One of the reasons for the introduction of Auto Enrolment -whereby employers must set up pensions for their employees - was to bridge the gap between public sector and private sector workers. Unfortunately, this does not include the Self Employed, meaning the emphasis is still on them as individuals to implement a plan for the future. If you would like to discuss or review your own investments or pensions, or look at how we can help implement a strategy for retirement then please call us. Initial meetings are without cost and we are happy to come to see you in the comfort of your own home. See our advert below. This article does not constitute advice and should not be taken as a recommendation to undertake any course of action mentioned without consulting a relevant professional . 26 PhoneboxMagazine A 65 year old male retiring at the end of 201 2 would, on average, receive 56% less pension than in 1 994, and a 65 year old female, 50% less. The same research issued by Mone acts in early 201 3 also shows annuity rates in the UK have fallen in 1 5 of the last 1 8 years and the reduction was 1 1 .5% in 201 2 alone. If you wish to review your pension arrangements or you are approaching retirement, why not contact Advison to see how we may be able to maximise the benefit from your retirement planning. • ensure you have a clear financial plan for the future • provide protection and peace of mind for your family • make the most of your hard earned savings and investments • save for your retirement • minimise your personal t liabilities • protect your estate for your beneficiaries ...and give you access to ongoing advice and support Our financial advisers will help you to: