Some people approaching retirement regard the prospect as so daunting that they prefer not the think about it at all, according to the results of a survey by the life and pensions provider Friends Provident.

They admit to “burying their head in the sand” because pensions are so confusing.
The survey, designed to test Frieds Provident’s new pensions literature, found  there was general disappointment and frustration about pensions among some respondents. They tended to put off making a decision, equating this with not taking a risk.

On the basis of these findings, Friends Provident has set out to make its new pre-retirement literature, for members of its company pension schemes, more user-friendly. The aim is to ensure employees know their retirement options and ‘next steps'; provide simple and unambiguous information; encourage customers to seek professional advice, and give an appropriate balance between promoting Friends Provident's annuities and reference to the Open Market Option (OMO).
 
The new literaure has been well received, according to David Millar, corporate pensions communications manager. “We want members to make informed decisions about retirement, and that means making sure they understand their options,” he said.

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