Over half of people without a private pension (53%) would start a pension if they had a better understanding of how they work, a survey by Capita Employee Benefits has found.

The survey of 3,000 people in employment revealed that 62% of respondents without a private pension find pensions-related terminology complicated, confusing and a barrier to them planning more effectively for their retirement.

It also found that 40% of those surveyed simply search Google when they want more information on a financial product.

Commenting on the findings, Capita Employee Benefits head of marketing Robin Hames said: “As with all information on the internet, some of it is good quality but some of it is inaccurate, out of date or plain wrong. It’s worrying that Google has, to some extent, become the nation’s financial adviser – frankly, we shouldn’t have people making important financial decisions based on advice they’re arbitrarily finding on the web.

“These findings illustrate how vital it is for information on pensions to be made clearer and more easily digestible.”

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