More than a quarter of workers are now more likely to save into a pension after the sweeping changes announced in the Budget, according to research.
National Association of Pension Funds (NAPF) figures show 28% of people are now more inclined to start saving or save more into a pension. The pension fund organisation said more than half of young people are now more likely to use a pension as a result of the Budget changes, which give savers the chance to cash in their pension pot on retirement rather than buy an annuity. The NAPF's Spring Workplace Pensions Survey 2014 also found 42% of lower income workers were now more attracted to pension saving. Some 61% of people said they felt capable of deciding what to do with their pens...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes