Over 20 million* give politicians the thumbs down on pensions

on Dec 09 in tagged by Brian Wood

With a general election poised to take place next year, nearly half of the adult British public think that none of the political parties will be effective in dealing with pensions issues. The newly launched Beat the Pensions Crisis (www.thepensionscrisis.com), a book and free website which aims to help people take control and plan their pensions, commissioned the YouGov poll** as part of its research to understand the attitudes of consumers.

Although the Conservative Party (20 percent) fare better than their political rivals, when asked which party would best deal with the UK’s pensions issues, an overwhelming majority (44 percent) said they didn’t believe any party would be effective at ironing out Britain’s pensions issues.  Only 15 percent thought Labour would be best, followed by the Liberal Democrats with 8 percent.

Brian Wood, co-author of Beat the Pensions Crisis, said:

“Pensions planning is arguably one of Britain’s biggest economic and political challenges. It is certainly one that will be discussed on the doorstep in the run up to a general election.  Currently seven million people are not saving enough*** to fund their retirement and this certainly isn’t being helped by a constantly shifting pension policy. There’s a continual to and fro over the age of retirement and yet another system of personal pension accounts being introduced in 2012.”

“People are concerned about what their retirements hold, they want help and they want answers. But, it’s clear that most people have lost faith in the ability of politicians. Therefore, people must start to find their own answers and take control of their own financial futures – we can no longer rely on the government to do this for us.”

“At Beat the Pensions Crisis, we aim to build a community of people united by a real desire to take control of their own retirements and improve them.  We recognise that the sheer volume of information, shifting policy and a financial services industry dominated by jargon has put people off engaging with this important issue.  We have launched a book and free to use website to cut through this jargon and give them the tools to properly plan for their retirement.”

Beat the Pensions Crisis’s authors will present their findings at a launch event this evening in London (30 November 2009).

Notes to Editors

* This figure was calculated as 43.61 percent of 46,920,100, the number of adults aged 18+ in Great Britain (ONS: Mid-2008 UK, England and Wales, Scotland and Northern Ireland: 27/08/09).

** All figures, unless otherwise stated, are from YouGov Plc.  Total sample size was 2021 adults. Fieldwork was undertaken between 24th – 26th November.  The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

*** This figure was taken from the Personal Accounts Delivery Authority, Key Facts document.

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