Survey shows ‘pensions confidence gap’ shock

Just over half (53 per cent) of UK workplace pension scheme members feel confident planning for retirement, research from pensions communications agency Like Minds has revealed.

Like Minds, which is part of pensions trusteeship and governance provider Independent Governance Group, said the research suggested pension communications are not meeting demand for support and pointed to a pensions confidence gap.

Jeremy Petty, director at Like Minds, said:

“The pensions confidence gap is one of the primary issues plaguing our sector and will continue to loom as an impending disaster if not properly addressed.

“Members are clearly eager to learn more and engage with their pension schemes and retirement – giving us a real opportunity to close the gap through better support and connection.”

The report also found that 44 per cent of members could not recall receiving a pension communication in the past 12 months.

Of those who could, only 21 per cent took the action the communication prompted.

Like Minds said the research showed members wanted communications that felt relevant to them, with 71 per cent saying communications should be designed around their lives, needs and circumstances.

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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