Tax confusion, a lack of information on pensions, along with an insecurity of not knowing how much they will get at retirement are still major barriers preventing individuals in the UK putting money into their pension, new research indicates.
A survey conducted by stakeholder pensions provider, B&CE finds 42% of respondents believe ‘knowing what they will get at retirement’ is the most likely means to encourage saving, while four in ten respondents believe better information (ie: workplace partnerships) on pensions is likely to foster action. A third of individuals want to see their pensions savings equally met by the government as a means of persuasion to save voluntarily. B&CEsays tax issues regarding pension saving can also potentially act as a deterrent and are highlighted by one in four respondents, who believe that cle...
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