The UK working population has more "faith" in employers' abilities to provide adequate pensions tha...
The UK working population has more "faith" in employers' abilities to provide adequate pensions than the government's, according to the National Association of Pension Funds.
Its latest survey shows that nearly three in four workers are "very" or "fairly" confident about their employers as pension providers.
On the other hand, one in two said they trusted the government "a little" when it comes to ensuring a satisfactory pension. A whopping 38% added they did not trust the government at all.
Despite the UK's current "pension crisis", the results indicate that Britain's company pension schemes remain the most trusted source of retirement provision for millions of today's workers, says Christine Farnish, NAPF chief executive.
However, "to continue building on this success", Farnish says, "it is vital that the pension landscape is simplified, and that employers are encouraged to provide workplace pensions".
"Many employers are finding innovative and practical ways of retaining pension schemes in the face of growing pressures, while employees show growing signs of awareness of the importance of a good company pension."
The survey also shows that more than nine out of ten believe that the government should improve incentives for employers to offer pensions.
Farnish says: "The government can and should be an active partner in this process. Measures announced so far go some way to addressing the problems of complexity and insecurity, but more can be done to encourage those who provide pensions and those who benefit from them."
"Failure to do so could mean a growing savings gap and a growing pensions problem for the future," she adds.
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