People 'lacking confidence in pension income'

By Tom Farley, Mon 8 Mar 2010 - Published in Pensions

Just one-third of people expect their pension to provide them with enough income in retirement, it has been claimed.

Research carried out by the National Association of Pension Funds (NAPF) showed only 34 per cent of respondents are confident that there is enough saved in their pension pot, while 27 per cent said they would have more faith in the products if there was a guarantee they would not lose any money they had paid in.

The poll also found that 77 per cent of workers look more favourably on employers which offer a pension than those which do not and 38 per cent consider it to be the most valuable benefit a company can offer.

Nigel Peaple, director of policy at the NAPF, said: "It is clear that people greatly value pensions. They consider pensions to be the best way to save for retirement, far ahead of property."

NAPF spokesperson Mark Brooks recent claimed that the government should do more to support firms with pension plans, as they are being placed under an increasing amount of pressure by economic problems.

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