Pension confidence is rising despite the effects of the slump, finds survey
EMPLOYEE confidence in pensions has rebounded sharply, according to the National Association of Pension Funds (NAPF).
The association’s latest Workplace Pensions Survey says that its confidence index stood at +11 per cent at the end of September, three per cent higher than in March.
The confidence index has jumped sharply from its low point of +1 per cent at the end of 2008, NAPF said.
Despite the recession and the additional pressures on people’s finances, pensions remain a priority for employees. Nearly two in five employees rate pensions better than any other form of savings for retirement, including buying up property.
And more than eight out of ten say they will continue to out cash into a pension at work, while seven per cent will increase their contributions, the survey found.
NAPF chief executive Joanne Segars welcomed the rise in pensions confidence.
“At our conference this week we will send a very clear message to politicians that they need to take pensions seriously,”she added.