‘Potentially Dangerous’ to Place Responsibility for Pensions onto Individuals
Most Employees Don’t Know Size of Expected Pension
It appears that the majority of working people who are in pension plans do not know the amount that their pension will pay on retirement.
This raises questions about governments shifting responsibility for pension provision to individuals who do not appear to be well-informed enough to make good decisions, Prof Alan Barrett told a conference on retirement planning, hosted by the Society of Actuaries in Ireland, on Thursday 27th September 2012.
The full Press Release is available here.