Issue - meetings

Presentation by Affinity Connect Ltd

Meeting: 24/07/2008 - Pensions Committee (old) (Item 25)

Presentation by Affinity Connect Ltd

Presentation by Kim Pocock of Affinity Connect Ltd on: ‘The Financial Markets: How do they work? How do they affect my finances?’

 

Minutes:

The Chair welcomed Kim Pocock of Affinity Connect Ltd to the meeting, to give a presentation on ‘The Financial Markets: How do they work? How do they affect my finances?’.

 

By way of introduction, Ms Pocock outlined some of the different financial assets that were invested in, and the different pension products available. It was recommended that everyone request details of their National Insurance contributions to date in writing, to check that their contributions had been registered and that they would receive the state pension to which they were entitled.

 

Ms Pocock advised that it was never too early to start planning for financial arrangements in retirement, and suggested that it was a valuable exercise for people to draw up a budget sheet in order to calculate whether their income in retirement would cover their outgoings. Fund members were also advised of additional pension and savings products available if a shortfall was calculated, and that consideration needed to be given to issues such as inflation and the impact this might have on their expenses in retirement.

 

In conclusion, Ms Pocock noted that pension provision was becoming ever more important as life expectancy increased, and that in order to outperform the rate of inflation it was advised that people seek to spread their investments as widely as possible. Fund members were advised that Ms Pocock would be available after the meeting to answer any specific questions that anyone might have.

 

On behalf of the members and trustees, the Chair thanked Ms Pocock for her valuable presentation.