Workers will display a "measured response" to pension reforms while worrying they have not set aside enough for retirement, a survey suggests.

Fewer than a third of employees surveyed by an HR trade body expect to change their pension plans as a result of new rules starting in April. In effect, the overhaul cancels any requirement for new retirees to buy an annuity. They can take these savings as cash when they retire instead. Existing pensioners are unaffected.

'Shortfall'

A survey of more than 2,000 workers found that, among those asked, the typical contribution made into a defined contribution workplace pension was 5% of salary. Most employees said that they felt this was insufficient, wanting to put aside 9% of salary. Some 22% of those asked were unaware how much they contributed.....Read more here