Consumers are keen to be provided with simple risk indicators to help them make investment decisions, according to a joint investigation by Cicero Consulting and Brahm Research.
The two financial policy specialists investigated some of the key conclusions of the Treasury select committee report into restoring confidence in long-term savings.
They found that 84 per cent of people believe that a simple risk indicator would help investors make the right investment decisions while 63 per cent believe people should be able to access their pension savings during periods of unemployment or illness.
About 57 per cent of those surveyed think that management fees charged by providers should be linked to investment performance.
Cicero Consulting director and chief corporate counsel Iain Anderson says: “Our research provides all policymakers with a clear view that clearer consumer information and fees linked to investment performance are very important to consumers. It appears that MPs are in tune with much consumer thinking.”
Brahm Research director Robin Horsfield says: “The fact that people want to access their pension during times of unemployment or illness shows that attitudes towards pensions are changing – a pension is no longer viewed solely as savings for retirement. This is an important opportunity for policymakers to start to address pension policy in earnest before the next general election.”