Pensions represent cheapest way to save money

Mon, 22 Oct 2007

According to a Department for Work and Pensions (DWP) study investigating UK consumer perception of pensions, most adults in the UK are under the impressions that pension schemes are the most secure way of saving money for retirement .

However, some 25 per cent of these respondents were not entirely sure about pensions, with the final quarter disagreeing completely that pensions were the best way to save .

Most respondents did trust their employers and other not-for-profit independent organisations to handle their pensions business . The government and the financial services were found to be less trustworthy.

According to the Times this week, over a quarter of large companies are looking to sell their pension schemes. They commented: "the number of companies that want to rid themselves of their pension liabilities is much larger than previously thought."
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