Just 5 per cent would let Brown handle pension

Fri, 27 Jun 2008

According to a recent study by Friends Provident, just five per cent of Brits would allow Gordon Brown to handle their pension fund . The study reveals a disturbing loss of face in the Prime Minister, who is approaching his first year in office.

The lack of trust is thought to largely be down to the Government running the state pension . Some 87 per cent of respondents who took part in the study said that the state pension will not fund their retirement, whilst 3 per cent thought it was adequate to live on.

The Head of Pensions Marketing at Friends Provident, Jeremy ward, reportedly said: "Our research shows that the public still lacks faith in the Government when it comes to pensions . Many people want to see greater commitment to state pensions, with a larger and fairer state pension proving most popular. The results bode well for Personal Accounts, with some people saying they would have greater confidence in the Government if employees were automatically enrolled in a workplace pension scheme - and this is something the pensions industry is already well equipped to deliver."
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