Following a recent survey by the Department for Work and Pensions, it has emerged that only 7% of the public believe employers should be made to contribute towards pensions. 46% of people surveyed said that each individual should be responsible for their own retirement income. 44% said it was the Government's responsibility.
50% of the people surveyed believed they would need around £250 per week for a comfortable retirement. 8% of people wanted more than their current income but had made no plans to achieve it.
Our View
For some time now the Government has been considering the implications of forcing employers to contribute to their employees' retirement. The results of this survey may come as a shock to them, especially when other surveys revealed the employer and employee should be equally liable.
Surveys should be treated with scepticism because the questions posed are hypothetical. If it actually came down to being forced as individuals to pay into pensions, how would the public feel then.
Everyone should save towards their own retirement if they want at least an adequate standard of living and the Government must start highlighting the harsh facts. The money provided by the Government in terms of State pensions is mere subsistence and will not allow any sort of lifestyle that the public may be used to now. Could you live on around £100 per week?