Over 50% of UK citizens do not seek out information on pensions, according to a new study.
The recent report was created to support the simplification of content for pensions, while making a plea to product providers and advisors to interact with the UK media at a human level, rather than focusing on the more technical aspects of pension plans.
The study found that the proportion of individuals not searching for pensions information between the ages of 18 and 24 was approximately 71%, rising to 83% when it came to people in full-time education.
Little more than a quarter of respondents stated that they received little to no information regarding pensions via the media, while 15% commented that they obtained all or the majority of their pension information from the media, seeing it as a dependable source.
The research suggests that people’s lack of engagement with available media sources was linked with the steady decline of pension issues being covered by the mainstream media over the last decade. To highlight this, the report commented that since 2015, property focused news stories had outnumbered those concerning pensions by approximately three to one.
UK consumers concerned about how their pensions can serve them in the future can look to retirement planning specialists in Shropshire, Chester, and other parts of the UK for expert advice. Professional wealth managers can help clients have a clearer picture of their financial affairs to ensure adequate income is available in retirement.
