Survey shows lack of confidence in pensions
Friday, 25 November 2011 01:51
New research has demonstrated that many Britons do not have faith that a pension will provide them with a good retirement income.
According to the poll, carried out by YouGov in conjunction with National Savings & Investments and the Institute of Financial Planning (IFP), only 29 per cent think a pension is the best way to save for later in life.
Women were found to be particularly wary of them, with only 23 per cent thinking they are the best method for putting money away compared to 36 per cent of men.
IFP spokesperson Nick Cann called on the government to make retirement planning more relevant for today's society.
"Now is the opportunity to build greater flexibility and incentive into long-term savings, to help people avoid financial disaster in retirement," he added.
This comes after a recent poll by the National Association of Pension Funds found that six out of ten people are dubious about having enough to live on from their pension, with many viewing Isas or property as more reliable.
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