“Engagement is part of the solution but I think that question of making a plan is key.
“It is a really interesting challenge for financial advisers and the industry as a whole about the role they can play.
“We need to think about how we can help people make plans and what are the processes people should be going through to make a plan?”
The report also includes recommendations for regulators and the government, including making the pensions dashboard happen and the need for more education about retirement planning.
Mike Regan, Nucleus’ chief financial officer, added: “If we have a better understanding of what the barriers are we will be better equipped to support customers on their next steps.
“We believe this annual index will help us understand some of that consumer sentiment.”
tara.o'connor@ft.com
