A THIRD OF ALL ADULTS IN YORKSHIRE SAVE NOTHING EACH MONTH

11 June 2003

A THIRD OF ALL ADULTS IN YORKSHIRE SAVE NOTHING EACH MONTH

A THIRD OF ALL ADULTS IN YORKSHIRE SAVE NOTHING EACH MONTH

A third (33%) of all adults in Yorkshire put nothing away in savings beyond their pensions provision, reveals a survey commissioned by IFA Promotion and the Guardian into the UK’s money habits*. And, despite widespread fears that - for many people - traditional pensions will offer insufficient income at retirement, more than half (52%) of people in the region save less than £100 extra each month.

The survey comes on the back of recent IFA Promotion research which showed that on average each adult in the UK needs to contribute over £2,000 this year alone to close their long-term savings gap.

David Elms, Chief Executive of IFA Promotion, commented, “With the pensions crisis putting many people off topping up their retirement pots, it’s alarming how few in Yorkshire are making alternative provision to secure their financial future.”

To help those keen to close their personal savings gap, IFA Promotion has produced its How to Get Saving! factsheet, looking at why we need to save, how much we should be putting away, and the range of ways to do so. People can call 0800 085 3250 or visit www.unbiased.co.uk for a copy and details of local independent financial advisers who can help plan the most suitable savings strategy for them.

For details of local IFAs and a copy of the How to Get Saving! factsheet, call IFA Promotion’s hotline on 0800 085 3250 or visit www.unbiased.co.uk

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* Survey conducted by ICM for IFA Promotion and The Guardian amongst 1,006 UK people aged 18+ 7^th-8^th May 2003

For further information, please contact:

Liz Willder / Richard Winder

Lansons Communications

020 7490 8828

lizw@lansons.com

For expert comment or case studies from over 190 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on 020 7294 3682 or search online in ‘Media Services’ at www.unbiased.co.uk

1. Independent Financial Adviser Promotion

IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents over 10,000 firms of independent financial advisers across the UK and is sponsored by 28 leading financial institutions. In 2002, over 300,000 consumers and businesses used IFA Promotion to find local independent financial advice.

IFA Promotion believes Independent financial advice should be:

· Affordable. The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.

· Convenient. IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.

· Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.

2. Independent Financial Adviser Promotion’s sponsors

AMP NPI	Norwich Union Life
AXA	Old Mutual Asset Managers
Barclays Global Investors Funds	Prudential
Bright Grey	Scottish Equitable Plc
BUPA	Scottish Life
Canada Life	Scottish Mutual Assurance Plc
Children’s Mutual	Scottish Provident
Clerical Medical Investment Group	Scottish Widows Plc
Eagle Star	Selestia
Friends Provident	Standard Life Assurance Company
GE Life	Swiss Life (UK) Plc
INVESCO Fund Managers Ltd	Skandia UK Group
Legal & General	Winterthur Life UK Ltd
National Savings & Investments	Zurich Life Assurance Company

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A THIRD OF ALL ADULTS IN YORKSHIRE SAVE NOTHING EACH MONTH

11 June 2003

A THIRD OF ALL ADULTS IN YORKSHIRE SAVE NOTHING EACH MONTH

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