A fifth of people 'have no faith in state pensions'

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Around 20 per cent of people are losing confidence in the government's handling of their state pension, according to new research.

The study by YouGov, for Friends Provident, found that 87 per cent of people also feel that Westminster is failing to provide them with retirement savings that will help them in later life.

It was also found that 47 per cent of people are "actively saving" in a personal pension to avoid having to depend on a state retirement provision.

Jeremy Ward, head of pensions marketing at Friends Provident, said the findings showed how the public "lacks faith in the government when it comes to pensions".

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

Recent research by Edward Jones found that 43 per cent of people in the UK have reduced the amount they are saving for retirement due to the rising cost of living.

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