Six out of 10 employees see no benefit in personal accounts, when saving for retirement.

According to JLT Benefit Solutions, 57% of staff do not think personal accounts will benefit them and almost a third (30%) think they will opt out of the scheme when it comes into effect in 2012.

The personal accounts system has been designed as an alternative to defined-contribution pension arrangements. Staff not already contributing to a pension will be auto-enrolled into the arrangement and will contribute 4% of their salary each month, the employer will contribute 3% and a further 1% will be achieved through tax efficiencies.

But 40% of employees claim they do not like the Government telling them what to do with their money and 19% of those who plan to opt out are doing so because of lack of trust in the Government following the recent expenses fiasco.

Duncan Howorth, CEO, JLT UK Employee Benefits, said: "When we consider the results of our most recent research both in comparison with our last survey and in light of the current economic climate, employees are finding it hard to consider Personal Accounts when they have more immediate financial concerns with which to contend. Employees are, however, still missing the big picture, that their retirement planning is all part of a wider financial planning piece."