Survey reveals less confidence in stock market

Almost half of those surveyed (46%) in a recent study said it was a bad time to invest in shares.

In the survey of more than 1,000 adults conducted on behalf of Standard Life,

more than three out of four respondents (77%) said it was a good time to invest in pensions.

“This reflects the weakness in stock markets over the summer,” said Brendan Barr, head of marketing with Standard Life.

“Pensions (77%) and pension top-up contributions (67%) continue to be the top two investment choices by a large margin with consumers. However, people’s confidence in all investment categories is down with the exception of deposits, compared to our last survey in June.

“It’s noteworthy that the recent fall in stock market confidence had very little impact on the appeal for pensions, despite the fact that pensions invest predominately in shares.

“This indicates that people understand the long tem benefit of equity investment, as well as the generous tax relief available on pension contributions.”