Just a third of working people believe their pension will provide enough money to fund their retirement. More than a quarter of people would be more confident about saving into a pension if they could be sure of not losing any money, the survey by the National Association of Pension Funds (NAPF) found. A similar proportion wanted a guarantee their pension income would not run out before they died.
Some 44% of people said a pension was the best way to save for retirement, according to the NAPF, compared to 18% who favoured property. And some 38% of people consider a pension the most important workplace benefit, ahead of bonuses (19%) and flexible working (13%).
Nigel Peaple, director of policy at the NAPF, said the survey results show people ‘greatly value pensions’.
‘They consider pensions to be the best way to save for retirement – far ahead of property - and over three quarters value an employer more if they offer a workplace pension,' he said.
'People want their pension to provide them with certainty, in particular they want to be sure they won’t lose money.’
The research was commissioned ahead of the NAPF’s annual investment conference, to be held in Edinburgh this week.