Only one in five UK working active investors is at least very confident their pension provision will deliver an acceptable return.
Of the 511 respondents to an online Mori poll, commissioned by TD Waterhouse, a further 40 per cent say they are fairly confident their pension pots are big enough.
Around half the respondents – 52 per cent – expected the basic old age state pensions to expire by the time they retired, revealed the survey.
Over one in four – 26 per cent – are considering managing their own pension provision through a Sipp, whilst 14 per cent had never heard of them. Over half of those asked – 59 per cent – are unaware of the new rules after A-Day.
TD Waterhouse chief executive officer Michael Foulkes says: Britains pension deficit stands at a staggering 130bn for a variety of reasons but the fact remains: not enough saving is taking place. In order to address this deficit we need to find ways to encourage more people to start making long term financial provision.