General election  

Almost 90% of savers want pension and savings review from next govt

Almost 90% of savers want pension and savings review from next govt
The Tory 'Triple lock plus' policy resonated with older voters (pexels/ markus winkler)

Some 87 per cent of consumers want to see a pension and savings review conducted by the next government.

Research from PensionBee found the policy, as promised in Labour’s manifesto, was supported by 92 per cent of those aged 35 to 44. 

Maintaining the abolition of the lifetime allowance was also favoured by 61 per cent of respondents. 

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Meanwhile, the Conservatives’ ‘triple lock plus’ policy resonated with older voters with 65 per cent of over 55s aware of the policy and broadly understanding its aims. 

Some 60 per cent of respondents said they would likely vote for a party who would scrap inheritance tax. 

Prioritising the NHS and social care funding was also high on the agenda with almost 70 per cent stating they were likely to vote for a party committed to increased spending in this area, even at the expense of higher taxes. 

When asked about their feelings towards the future, 55 per cent of respondents felt optimistic about a change of government, while 23 per cent felt unsure rather than pessimistic.

Younger savers were the most optimistic (68 per cent) about a new government, whereas those aged over 65 were the least likely to express this sentiment (40 per cent). 

Becky O’Connor, director of public affairs at PensionBee, said: “Our survey clearly shows that voters are eager for meaningful reforms in some areas of the pension system and continuity in others, reflecting a broader need for financial security. 

“The ability for working people to build a decent pension is a key pillar of a well-functioning society and the incoming government has a significant opportunity to implement policies that foster confidence and trust among savers, ensuring a financially secure future for all.”

alina.khan@ft.com