Amid concerns about whether people know what pensions options are open to them, a financial services provider has attempted to shed light on the level of public awareness regarding self-invested personal pensions.
According to research from investments company Fidelity FundsNetwork, 29 per cent of pensions advisers believe self-invested personal pensions are well down the road to becoming the preferred pension for the higher end of the mass market.
On April 6th 2007, dubbed A-Day in the media, the government introduced a raft of reforms for the pension type such as increasing contribution limits and enabling investors to start saving money in domestic and international property.
However, the study revealed that 22 per cent of pensions advisers believed public understanding of pensions options was low at present.
Commenting on the findings, David Dalton-Brown, head of the financial services provider, said: "After all of the hype surrounding A-Day, it is a shame to think that some investors could be missing out on this opportunity due to lack of awareness and education."
Meanwhile, pension holders may already be aware that the government proposes to unveil a new national pensions savings scheme in 2012, which will feature automatic enrolment for full-time employees.
Study highlights public awareness of pension options
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Study highlights public awareness of pension options
Tue, 01 May 2007
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