News
March 2007
Jargon can delay pension planning
New research from Aviva suggests that 32 per cent of workers have put off planning for their retirement because of pensions jargon. The survey of 2,679 adults came up with the following:
- 20 per cent of people think retirement is too far off to worry about
- 14 per cent haven't thought about their future at all yet
- 65 per cent do not feel financially prepared for retirement
When asked about the terms associated with pensions the survey found that:
- 24 per cent of people admitted to not understanding financial terms such as National Pension Savings Scheme (NPSS) or annuity
- 17 per cent admit they don't understand the subject of retirement and any other issues
- 4 per cent think retirement is simply boring
Lynne Gray from Aviva, said: "It is important for people to realise there is advice out there on retirement planning and that it is easy-to-use and jargon-free."