Third of adults unaware of pension reforms - research

Carmen Reichman
clock

Almost a third of UK adults do not know what changes to pensions were announced in the Budget or how they are affected, according to research.

Around 31% of the 2,532 adults polled by YouGov on behalf of Axa Wealth in mid April, said they were unaware of the pension changes announced by the chancellor in his March Budget. Almost a quarter (23%) said they did not know which options applied to them in relation to the Budget reforms. > Read: What you need to know about the Budget < The survey also found a low number of people with clear financial strategies, which was contradicted by a high (63%) number of respondents saying they are worried about not having enough money in retirement. Axa said the core issue appears to be...

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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Reeves to consider £2bn raid on tax-free pension lump sum

Reeves to consider £2bn raid on tax-free pension lump sum

Telegraph reports PCLS cut could help plug £50bn public finances hole

Jonathan Stapleton
clock 21 August 2025 • 3 min read
State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read