· 1 min read · News

Employees still have low confidence in saving for retirement, according to YouGov and NS&I


Less than a third of adults in the UK people have confidence that contributing to pension plans is the best way to save for their retirement, according to a YouGov poll for National Savings & Investments (NS&I) for Financial Planning Week run by the Institute of Financial Planning (IFP).

The IFP is running a series of daily polls with consumers throughout Financial Planning Week to find out what people are thinking when it comes to their money - and how they are coping with their personal finances during these uncertain times.

Today's poll looks at the public's attitude to whether or not pension plans are the best way to build up funds for their retirement. Only 36% of men were confident that pensions were the best way forward, while women are even more wary - with only 23% believing this to be the case.

Nick Cann, CEO of IFP said: "We can either sit back and continue to be concerned about today's findings, or we can call on the Government to make planning for retirement more relevant and interesting for today's society. People are clearly very nervous about committing to long-term savings with no access to any of the capital that is being built up. Now is the opportunity to build greater flexibility and incentive into long-term savings, to help people avoid financial disaster in retirement. "