Studies show Pensions are the most popular way to save for retirement

October 8, 2008

Despite the worsening economic climate its appears that Employee confidence in pensions is still the best way of saving for retirement.

According to the latest survey from the National Association of Pension Funds (NAPF) Worker confidence in pensions schemes has risen from 3 to 22 per cent in 2008.

41 per cent of the 1,198 UK employees believe that pensions are the most popular way to save for retirement.

The rise in Pension confidence was down to the increased uncertainty in property as an alternative way to fund a retirement.

Joanne Segars, the Chief Executive of NAPF has said:

“The welcome boost in pensions confidence shows the traditional view of ‘at least I’ve got my pension’ has started to make a comeback. Psychologically, employees are ring-fencing their pension from the other financial pressures they are facing. The decline in adverse publicity about the security of pensions has also had a part to play. The message that the system in the UK is one of the best protected in Europe must be getting through.”

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Posted by hrgirl | Filed Under Employee Relations, Reward/Benefits 

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