Roughly one third of consumers understand the basics of pensions and personal finance, according to research carried out for the Irish Association of Pension Funds during its annual defined contribution pensions conference held recently this month.
The impact of interest rates, the effect of inflation on savings and whether investing in a single company’s stock or a unitized fund usually provided a safer return were the three questions asked to over one thousand people across the country.
31% of those that took part in the survey got all three questions right whilst around one half of respondents got two of the three correct. Males performed better than females in the survey with older consumers more likely to understand how personal finance works.
Given the importance of a pension as an asset for the future, our pensions advisors will happy to help you with any questions you may have so that you can get the best out of your money. Getting advice is simple: call us on 1890 746 759 or send an e-mail to firstname.lastname@example.org today.