The Workplace Pension Survey tracks the opinions and attitudes of people in employment on pensions, and their expectations in retirement. The nationally representative poll of about 2,000 people in the UK provides trend data on attitudes towards pension provision.
The most recent published report is from May 2014. Key findings include:
- 71% of respondents had access to a workplace pension and 73% of these were saving in to the scheme.
- 12% of respondents who stated that they had been automatically enrolled in to a pension scheme chose to opt out.
- Young people (18-24) currently saving in to a pension scheme were most likely to consider saving more in the future (88%).
- Confidence in pensions has increased over the past year – with 44% of respondents stating that they were confident in pensions compared to other ways of saving.
- 55% of respondents felt that their pension would not be enough to live on in retirement. Confidence increased with income, as 64% of those earning £41,450 felt that their pension would be enough
- 64% of respondents expected to work past State Pension Age to live comfortably in retirement.
The full report is available to download below: