Over a third of young people believe the pensions industry and the wider financial services sector do not adequately communicate the benefits of saving into a pension, research from People’s Pension shows.
The firm's survey of 2,000 UK adults weighted to be nationally representative – conducted by Opinium last August and September on behalf of the defined contribution master trust provided by People's Partnership – found 36% believed the industry failed to communicate the benefits of saving into a pension. Of these respondents, more than a quarter (27%) said firms placed too much focus on selling products over providing education, while one fifth said they made pensions feel "boring" and "irrelevant" and a slightly lower proportion (16%) said providers used complicated language and jargon....
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