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50% will choose personal pension accounts

Legal & General research has revealed 50 per cent of British workers will choose to stay in personal pension accounts when they are introduced in 2012.

Only a third of respondents said they would choose to opt out whilst one in five simply don’t know.

Legal & General wealth policy director Adrian Boulding says the results are encouraging.

He says: “There clearly is an appetite for the scheme but also a need for an ongoing education programme. A lot of people answered ‘don’t know’ to questions. The Government still has a job to do in informing people as to how personal accounts work and how they will benefit individuals.

“Companies are gearing up for 2012, the benefits of the scheme need to be communicated now if individuals are to be in the best position to make informed choices. We would fully support any Government communications initiatives around the introduction of personal accounts.”

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