27 per cent of workers seeking pension reassurance

08 March 2010

A number of British workers have voiced concerns about the security of saving in a pension scheme.

Figures from a new report from the National Association of Pension funds (NAPF) have revealed that 27 per cent of respondents would be more likely to save in a pension if they were sure they would not lose money.

The study also revealed that more than one-third feel saving in a pension will not leave them with enough money for their retirement.

A number of workers could now be encouraged to look into schemes such as equity release to boost their retirement funds.

Equity release schemes can allow homeowners to draw cash from the value of their property assets.

Nigel Peaple, NAPF director of policy, said: "People want their pension to provide them with certainty; in particular they want to be sure they won't lose money."

The organisation is to discuss this issue at its Investment Conference later this week.