According to TD Waterhouse consumers are not fully aware of what pensions and savings plans involve.

Figures indicate that only 33 per cent of the public are against compulsory long-term savings plans and this figure drops to 27 per cent when looking at the 18-29 year old age group.

Commenting on figures, Michael Foulkes, UK CEO of TD Waterhouse, said: “The argument for compulsory company pension contributions seems clear as only one in three are opposed to the idea; but the fact that 19 per cent don’t know if they’re for or against compulsory contributions betrays the general public’s apparent apathy and ignorance towards pensions issues.”

According to Mr Foulkes “too much uncertainty, mistrust and apathy has been allowed to take control of the pensions debate”.

A huge 90 per cent of people questioned felt that the government should do more to help pensions.

To read more about pensions, click here.

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