Brits don’t understand the pensions system, shows new research

More than a quarter of British adults do not understand the UK pensions system, according to new research from Close Brothers Asset Management.

Research carried out by YouGov looks to highlight the impact that government changes have on UK consumer’s understanding of their pension options. Following the radical changes brought about by pension freedoms, and the recent changes to the state pension age, more than a quarter say that they find changes in legislation in the UK pension system confusing.

A further 29% admit that they find the range of products available confusing, the most popular response.