Jargon puts 14 million people off pensions

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Jargon related to pensions is putting more than 14 million UK workers off planning for their retirement, claims new research from Aviva.

The parent company of Norwich Union says research by the new ‘six-steps’ website launched last month, reveals 32%, or 14 million workers, delay their retirement plans because they don’t understand the jargon. In addition, the survey of 2,679 adults by YouGov, shows 20% think retirement is too far off to worry about now, while 14% haven't thought about their future at all yet, and 65% do not feel financially prepared for retirement. Meanwhile Aviva says 24% have admitted to not understanding financial terms such as National Pension Savings Scheme (Npss) or annuity, a further 17% admit the...

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