Workplace Pensions Survey an NAPF 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. This year’s report looks at current participation in workplace schemes, looking at age groups and income levels.
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.