Survey to find out what workers think on "pension revolution"

A national survey is under way to find out how British people feel regarding their pensions, announced today by the British Pension Survey who are poised to collate responses from UK workers and employees.

Views are being gathered in order to inform the approach of those policymakers, institutions and campaign groups who will drive through decisions regarding the country’s future pensions system.

Spokesperson for the British Pension Survey Michael Smith comments: “The pensions landscape in Britain changed forever this week with the introduction of auto-enrolment, which will see 800,000 people enrolled into a workplace pension before Christmas. As it is unprecedented, it must be tracked carefully to see how it impacts the health of our pensions.”

“We’re urging as many people to take part in the five-minute survey because the more people who do, the more accurate the results will be. When it comes to pensions, the old adage is true: knowledge is power. The British Pension Survey will develop our understanding of people’s concerns and aspirations, and provide an up-to-date snapshot of where we are – and where we’re headed – in terms of pensions.”

Auto-enrolment was announced by Minister for Pensions, Steve Webb, earlier this week as a ‘pension revolution’ that will see 600,000 more people saving into a workplace pension by May 2015.

Mr Webb comments: “We are proud to be introducing this truly historic change, which will radically alter the way we save for our old age, and see millions more people putting something aside for the future.

“From October, we will start seeing large firms, such as banks and big supermarkets, automatically enrolling their staff into a workplace pension. Between now and 2018, more and more employers will come on stream – right down to the smallest ones.

“If we can get between 6 and 9 million more people saving in a pension by the time all employers are in, that’s a genuine savings revolution." For more information on the survey go to britishpensionsurvey.com

Image: Pensions Minister Steve Webb; courtesy of Liberal Democrat Photostream