Attitudes to pensions: the 2009 survey: technical report

Document type
Survey
Author(s)
Clery, Elizabeth; Brown, Victoria
Publisher
DWP
Date of publication
1 October 2010
Series
Department for Work and Pensions research report; RR701
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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The latest survey explores people's attitudes and experiences in relation to retirement and pensions and aims to assess how these have changed over time. The survey also examines public attitudes in light of important changes to people's working lives, such as the need to work for longer and the proposed increase in State Pension Age. The majority of respondents are positively disposed towards saving. Two-thirds of respondents (67 per cent) report accessing information about financial products, services and issues through a variety of sources, with variation by age. The proportion of respondents who feel they had a good or reasonable knowledge of pensions issues is low and there is considerable uncertainty about the age at which they will be able to claim their State Pension. The majority of respondents have or expect to have access to some form of financial resource in order to fund their retirement, although the provision varied substantially among respondents. There are low levels of knowledge among respondents of what their income in retirement will be. Knowledge varied by gender, age and socio-economic status. However, the majority expect to have enough income to live on in retirement.

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