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

State pension nears tax threshold – how can the government fix it?

State pension nears tax threshold – how can the government fix it?

'While policy change would be welcome, individual action is just as crucial'

Laura Suter
clock 06 May 2025 • 4 min read
A 1000-day wait: Pension transfer delays demand urgent reform, advisers say

A 1000-day wait: Pension transfer delays demand urgent reform, advisers say

Transfer delays highlight need for ten-day Pension Switch Guarantee

Sahar Nazir
clock 29 April 2025 • 2 min read
Sipps: How clients can avoid common retirement planning mistakes

Sipps: How clients can avoid common retirement planning mistakes

'Retirement planning stands as a cornerstone of long-term financial well-being'

James Floyd
clock 28 April 2025 • 4 min read