Almost nine in 10 (87%) voters have expressed a desire for the next Government to conduct a comprehensive review of the pensions and retirement savings system, PensionBee has found.

The results come after the Labour Party announced that it would introduce this review if it were to win the General Election next month.

Support for this review was strong by those aged 35 to 44 (92%), a group that PensionBee says has "consistently demonstrated low pension confidence".

Maintaining the abolition of the lifetime allowance, which was a recent reversal by Labour, was favoured by over three in 10 (61%) of survey respondents, while over a third (37%) believe that it encourages saving for the future, while almost a quarter noted that any changes would directly impact their retirement planning.

Meanwhile, the Conservatives’ triple lock policy resonated with older voters, as almost two-thirds (65%) of over 55s were aware of this policy and broadly understood its aims.

PensionBee also found that three in five (60%) of respondents indicated they would likely vote for a party pledging to scrap inheritance tax.

Previous research revealed that while 30% of over 55s would like to see the tax abolished completely, only 15% of young savers (18-34 years-old) shared this sentiment, instead favouring a more means-tested approach.

Director of public affairs at PensionBee, Becky O’Connor, said: "Pensions often face policy changes due to the costs involved for the Treasury in offering tax relief and the state pension, but also because votes can be won or lost through adjustments to people’s retirement prospects.

"Our survey clearly shows that voters are eager for meaningful reforms in some areas of the pension system and continuity in others, reflecting a broader need for financial security.

"The ability for working people to build a decent pension is a key pillar of a well-functioning society and the incoming government has a significant opportunity to implement policies that foster confidence and trust among savers, ensuring a financially secure future for all."

---