Fleet News

Pensions: most trust employers

Trust and confidence in pensions and pension providers remains low in the UK, with a quarter of respondents in a recent survey claiming a pension is not the most secure way of saving for retirement.

However, those polled in the survey completed by the Department for Work and Pensions (DWP) would trust their employer for advice over someone working in the finance industry.

A DWP spokesman said: “Respondents were asked how much they trusted each of four organisations to “act in your best interests” when thinking about pensions.

"Employers and non-profit independent organisations were most trusted, while the financial services industry and the Government were less trusted.”

News stories about pensions (30% of respondents) and an experience of a friend or relative (26% of respondents) were the most important influences affecting trust and distrust for those polled.

A personal experience was chosen by 17%.

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