Britons rely on government for pension help

18-12-2006

Britons rely on government for pension help
Fifteen per cent of Britons think that planning for their retirement should not be their responsibility, research from Aon Consulting has shown.

Despite government attempts to increase personal responsibility for pensions savings, a quarter of the 1,204 working adults surveyed said that the government should also share responsibility for funding their retirement.

Around 22 per cent, meanwhile, thought that employers should share responsibility for funding their pension.

Head of defined contribution pensions at Aon Consulting Paul Macro said that it was worrying that so many people were refusing to take responsibility for their own retirement and were continuing to rely on others.

He said: "It may sound like a broken record, but while people are living longer and the cost of living is going up, we need to keep reiterating the need for self responsibility to save more for a decent retirement.

"Our survey should act as a wake up call, as even with the introduction of the government's new personal accounts, it's unlikely that many workers will be able to retire comfortably without individuals taking a more active role in the funding and planning of their retirement."


Related categories: Insurance / Pensions.


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