NAPF workplace pensions survey – October 2012

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NAPF workplace pensions survey – October 2012

The NAPF Workplace Pension Survey tracks the opinions of people in employment on pensions, and in particular assesses their reaction to auto-enrolment which rolled in on October 1, 2012.

SUMMARY OF FINDINGS

  • Over half (51%) of respondents are not members of a workplace pension scheme
  • 58% of men have heard about pension reforms compared to 47% of women
  • 65% of respondents are likely to stay auto-enrolled
    • 9 in 10 believe that the State Pension will not be enough for them in retirement
    • 7 in 10 would increase their contributions in future years
  • 35% of respondents are likely to opt-out
    • 73% could not afford to pay into a pension scheme
    • 3 in 4 are concerned about losing money through their pension investments
  • 58% of men and 52% of women would choose a lower return on investment if they were guaranteed a minimum income on retirement.

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