More than half the nation sees compulsory pension contributions as a possible solution to tackling the country's £57bn pensions shortfall, suggests research.
Commissioned by Axa, the research suggests more than 23 million adults would vote in support of making savings into a pension by employees and employers compulsory to secure retirement income.
The findings follow last week's Pension Commission report, chaired by Adair Turner.
Some 22% questioned claim they would vote against savings compulsion, instead favouring this be left up to the discretion of the individual.
One-in-five say they would not vote at all due to the inadequacy of information provided about the issue.
Greater London is most likely to vote 'yes' in a referendum - 56% - compared with just 40% likely to do the same in the North West.
Steve Folkard, head of pensions marketing Axa, says: “The psychology of these results is interesting in that it suggests that although the public are becoming increasingly concerned about financing their retirement they are unable or unwilling to do much about it unless compelled to do so.
Folkard urges government to tackle the communications gap for the vast number of people who lack sufficient information even to vote on the issue.
“As the problem becomes more acute government will have to consider radical solutions like compelling people to save. Doing nothing really isn’t an option.”IFAonline
Paul Bruns and Elaine Parkes
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