Tuesday 4th April 2006
Sorting out pensions as soon as possible has been advised after new research found that just one in four people approaching retirement age feel that they are financially sorted.
According to research from GE Life, a retirement specialist, the majority of people believe the government should be doing more to inform people on pensions.
Over half of those retiring in the next five years said that they wished they had started saving for their retirement sooner, while three in ten people are currently relying entirely on the state to support them in retirement.
"There is no doubt that consumer confidence in pensions has plummeted for a variety of reasons over the past few years - it is in everyones interest that the importance of planning for retirement is put firmly back on the agenda and discussed openly if confidence is to be restored," commented Scott Dolfi, chief executive of GE Life.
Mr Dolfi added that the surveys findings suggested that people primarily trust themselves to find out more about pensions, as just "15 per cent of those approaching retirement trust the government the most for providing information".
For those keen to find out more about pensions, using online comparison sites can help to find the most beneficial scheme for each person.
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