State Pension Support Confidence
Published / Last Updated on 07/06/2008
State Pension Support Confidence
HSBC Insurance says, the majority of workers do not believe the government will play a significant role in supporting them through retirement. The firm’s fourth annual Future of Retirement study – which polled 21,000 people in 21 countries found two out of three believe governments should play a significant role in supporting people in old age, but three out of four said it was unlikely to happen.
HSBC Actuaries and Consultants said people have accepted that pensions are not a god given right. Pensions have gone from a backwater subject, now it is one that people do not understand.
Our view
The State Pension is fantastic value for money and is normally the ‘life saver’ when people retire.
The reality is that people do not save enough into pensions and have no real awareness of how much they should be saving.
Useful links:
Learn more about Pension Advice and related topics in the Pensions Adviser Channel
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
