Warning not to lessen appeal of pensions

STANDARD Life has warned the Government against lessening the appeal of pension products by reducing tax reliefs, after a survey showed only a quarter of respondents think it’s a good time to invest in pensions.

The Standard Life survey of 1,000 people found that only 25% of those questioned saw the current financial climate as a good time to invest in a pension. Two years ago, the same survey returned an 80% approval rate for pension products from respondents.

“At times like these, the Government needs to encourage, not discourage, long-term savings.