Qualified advisers answering your
Financial Questions
call 0800 092 1245

Lack of confidence in pensions

A survey has revealed that people are seeing a lack of savings for their retirement due to a lack in confidence in pension investments. 71% of those asked identified that they were scared about making the wrong decision, compared with 47% who put it down to a lack of knowledge and understanding of how to go about saving with a pension.

A campaign to raise awareness of a new pensions system means millions of people will be enrolled into workplace pensions from October 2012. Looking at the private sector in particular, the automatic enrolment system aims to lift the low level of pension savings among UK workers. Applying to all workers, unless already in a workplace pension scheme or they opt out, who are at least 22 years old but below their state pension age, and who earn more than £7,475 a year.

The government expects that between four and eight million more workers will be enlisted into existing company schemes, or substitutes such as the National Employment Savings Trust (Nest). The awareness campaign, called "Tomorrow is worth saving for", aims to use social media to promote the benefits of saving for retirement as early as possible.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details