People should not assume that the problems experienced by the UK pension system will be solved by the time they reach retirement age, says IFA Promotion.
This warning comes after research shows that 40 per cent of British adults believe that pension solutions to the UK pensions system will be in place before they reach retirement age.
Almost a third of those between the ages of 55 and 64 believe that pension solutions will be found in time for their retirement pension, according to the survey.
This "blind faith" in the UK pension system has become evident at a time when the media highlights the growing savings gap and the possibility of a later state retirement age, IFA Promotion points out.
The organisation promoting the benefits of independent financial advice says this faith could explain why 24 million adults in the UK are still failing to save money towards their retirement pension.
"It's apparent from the Turner Report that there's no one instant cure-all for the current pension crisis, but one thing is clear: the sooner individuals start saving for their own retirement and the more they save, the better," says the chief executive of IFA Promotion, David Elms.
He adds that too many people are putting "blind faith" in the future of the UK pension system and delaying taking action. They should really start saving money, Mr Elms says.
Blind faith in UK pension solutions
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Blind faith in UK pension solutions
Wed, 30 Nov 2005
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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