Pension schemes baffle those closest to retirement

Understanding and awareness of pensions only improves with age, as the
prospect of retirement draws nearer, according to recent research by the
Chartered Institute of Personnel and Development.

However, the study of 599 members of the public shows that almost one in
five of the over-50s interviewed had little or no understanding of how their
pension scheme actually worked. This figure rose to one in three among
respondents under 25 years of age.

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