Brits 'want more commitment to state pensions'

British consumers want to see more commitment from the government in providing retirees with a good state pension, it has been suggested.

A recent study by Friends Provident found that only three per cent of pre-retired Britons consider the state pension to be enough for an individual to live on as they grow old.

In fact, the research showed that there is more confidence in employers and financial service firms than in the government to offer the help needed for a person to get by during retirement.

Around 47 per cent of the people polled said they were saving for retirement to avoid reliance on the government in later life, while a further 22 per cent indicated that they intend to start setting money aside for the same reason.

"Our research shows that the public still lacks faith in the government when it comes to pensions," said Jeremy Ward, head of pensions marketing at Friends Provident.

"Many people want to see greater commitment to state pensions, with a larger and fairer state pension proving most popular."

Meanwhile, a recent study by Nationwide Building Society found that around three-quarters of consumers across the country feel that saving is an important part of financial management.