14
JULY 2016 PRO INSTALLER
PRO NEWS
www.proinstaller.co.uk
Construction sector fails
to build retirement pot
Just 9% of people in the construction and property sector are
financially on track for the retirement they aspire to have,
unchanged from April 2015 and now lagging behind the UK
average of 12%, according to new research from Aegon UK*.
However, there is evidence that the pension
freedoms introduced in
April 2015, and initiatives like workplace
auto-enrolment for employees are having the
impact the government
intended. One in seven
(14%) construction and
property professionals
are saving more into
their retirement pot as
a direct result of the
pension freedoms.
Pension savers working
in this industry, have also
become more realistic about
the retirement income they
expect to receive. Average
annual income expectations
within this sector have fallen
from £46,000 in April 2015,
to £40,200 in the past twelve
months.
Despite these reasons for
optimism, engagement levels
remain low. Under a quarter
(23%) have checked the
performance of their retirement savings within the last
six months, while 21% have
taken steps to review their
plans for retirement, trailing
the UK average of 24% and
22%, respectively. These
factors all contribute to the
construction and property
sector having an average
readiness score of 54.
Steven Cameron, Pensions
Director at Aegon UK, comments:
“As we enter an era of
personal responsibility
for retirement saving, it’s
heartening to see the pension freedoms are having
a positive effect on saving
behaviour, with 14% saving
more into their pensions in
response to the freedoms,
but this needs to be a lot
higher if we’re to see real
change. For people in the
construction and property
sector the pensions penny
is yet to drop, with some
of the lowest engagement
levels. Workers in this sector
need to revisit their retirement plans before it’s too
late.
“The stark reality is that
91% of workers are falling
short of their retirement
targets; targets which are
themselves very stretching.
In this sector there is a job
to be done to lay solid foundations on which to build
realistic retirement plans.”
*Research sampled 175
people in construction and
property professionals as
part of a nationally representative sample of 3,890
people across the UK and
was conducted by Watermelon Research between 29th
February and 7th March
2016.
www.aegon.co.uk
NEW GENERATION OF M70
VEKA has launched the next
generation of its Matrix 70
Window System, said to be
even more energy efficient
than its predecessors.
Thanks to ongoing investment
in the supplier’s PVCu systems,
the M70 system has five chambers
within the profile as well as its
tried and tested steel reinforcements.
MD Dave Jones said: “The VEKA
UK Group constantly strives to
update and improve our product
range to ensure it is constantly
evolving. We know that to maintain our position as the industry
leader, our products have to be
the best they can be. In our 30th
year of UK manufacturing, we’re
proud to have designed and
launched the next generation of
M70.
‘an updated
contemporary bevel
will complement
any style of home’
“The new 2016 M70 is a fully-integrated, multi-chambered,
bevelled 70mm system with steel
reinforcement sections. Additional chambers have increased the
thermal performance to meet the
demanding current and future
requirements for more energy-efficient p roducts, while an updated
contemporary bevel will complement any style of home or commercial property.”
The demand for bevelled systems
within the commercial and social
housing markets remains as strong
as ever, with this style of profile accounting for the majority of installations in these sectors. The clean
bevelled lines of the new M70 will
also appeal to homeowners looking for contemporary aesthetics.
During the design process
of the new M70, VEKA also
completely redesigned its bay
pole system based on customer
feedback. The new system is
quicker and simpler to fabricate
and faster to fit, while enhanced
jacking poles provide easy access
to allow for on-site adjustment.
A choice of neat trim covers in
plain or featured finishes offers
excellent aesthetics for the homeowner, while minimising any risk
of damage.
South Kirkby-based VEKA fabricator Bennion and Sons Ltd was
one of the very first companies
to adopt the new system - and
its director Sam Bennion said
he couldn’t be happier with the
outcome.
www.vekauk.com