UK - The government is becoming "increasingly out of touch" with people over pensions, a survey commissioned by Help the Aged shows.
It found that 70% of people do not trust the government to provide unbiased information and only one person in nine believes the government will provide a decent state pension in future.
It found that 45% of people do not understand the current state pension system and 20% do not know how they will survive financially in retirement.
Help the Aged head of public affairs Mervyn Kohler said: “The government is losing the trust of the public over pension provision and is increasingly out of touch.
“This survey shows that the working population recognises they need to do something in terms of pension provision but do not know what the options are.”
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.