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Karen Barrett, Chief Executive of unbiased.co.uk, comments on today’s Spending Review:

State retirement age rising to 66:

“With the state retirement age rising to 66 for men and women by 2020 we are urging consumers to take action and start planning for their own retirement now.  Although today’s cuts make it even harder to put anything aside for the future, consumers can no longer ignore the fact they need to have a retirement income.  Over the last the last three years retirement planning has been the biggest driver for those seeking expert advice from an independent financial adviser. Last month alone, almost half (48%) of people searching for a local IFA on unbiased.co.uk were looking for help with their personal retirement planning and we expect this demand to continue following today’s announcement.”

NEST confirmed to go ahead:

“With NEST being confirmed today there is now a big job ahead to inform consumers of these upcoming changes.  We welcome this, as it will help millions save for their retirement, but more emphasis must be placed on consumer understanding of this new system, and how they can go about growing as big a pension pot as possible.  Over the last the last three years retirement planning has been the biggest driver for those seeking expert advice from an independent financial adviser. Last month alone, almost half (48%) of people searching for a local IFA on unbiased.co.uk were looking for help with their personal retirement planning and we expect this demand to continue following today’s announcement.”

Working Tax Credits:

“From April 2011, the basic and 30 hour elements of the Working Tax Credit will be frozen for three years, but our TaxAction report reveals as many as 9% of families are currently missing out on these credits they are entitled to, adding up to £1,510 million which will remain unclaimed.  Even with these limits frozen, those who are entitled to these benefits need to take action to ensure they aren’t missing out on what is rightfully theirs.”  

 ENDS

Karen Barrett, Chief Executive, unbiased.co.uk: 020 7833 3131

Anna Schirmer/Anna Moulds/Ellie Brooke, Lansons Communications: 020 7294 3682

For expert commentary or case studies from over 150 media-friendly IFAs, journalists should visit www.unbiased.co.uk/bluebook.

About unbiased.co.uk, the professional advice website

The unbiased.co.uk portal is a free and confidential UK-wide search matching consumers with local professional advisers: ‘find an IFA’, ‘find a mortgage adviser’, and ‘find a solicitor’, and is currently inviting registrations for its ‘find an accountant’ service.  These searches enable consumers to find professional advisers by postcode, area of specialism, qualification and payment method. In 2009, unbiased.co.uk fulfilled half a million searches for local, professional advice. 

IFA Promotion, the organisation behind unbiased.co.uk, is now in its 21st year, and was set up to promote the benefits of independent financial advice to consumers.  IFAP is sponsored by the following companies:

Registered Office: unbiased.co.uk is the consumer brand of IFA Promotion Ltd, 90 St. Vincent Street, Glasgow G2 5UB. Registered in Scotland: No. 114606