More than a third (36 per cent) of people do not believe their pension will provide a comfortable retirement, while growing numbers are unsure whether their savings are on track, according to Trafalgar House’s 2026 Trust & Confidence Survey.

The survey found that confidence in retirement outcomes remains low, with just 24.4 per cent agreeing that their pension will enable them to live comfortably in retirement, down from 26.3 per cent in 2025.

The proportion who strongly agree fell from 6.8 per cent to 4.6 per cent over the same period.

Uncertainty also increased, with the share of respondents selecting “don't know” rising from 15.8 per cent to 17.1 per cent.

Overall, 22.5 per cent either did not know or preferred not to say whether their pension would provide a comfortable retirement.

Trafalgar House said the findings suggested a growing number of savers are uncertain about whether their current pension savings will be sufficient to meet their retirement needs.

Trafalgar House director, Daniel Taylor, argued that this year’s findings raise an important question about what we mean by retirement adequacy.

“Having money in a pension is not the same as knowing whether you have enough to support the retirement you want. The fact that only 24.4 per cent of people believe their pension will enable them to live comfortably, while more than a third disagree, shows how few savers feel confident that their pension will be enough.

“Just as concerning is the growing number of people who say they simply don’t know. This suggests many savers lack a clear view of what their pension could provide in retirement – or what they need to do to improve their position.”

He added that the findings also had implications for how the pensions industry communicates with savers.

“It is not enough to tell people what their pension is worth today. They need to understand what that could mean for their future - whether they are on track, what level of income they might have in retirement and what choices they have if they are not.

“Trust is an important foundation, but confidence comes from understanding. Clear, relevant information can help savers understand whether their pension is likely to be enough - and, where it is not, what they can do about it.”

As reported earlier in the year, Trafalgar House’s 2026 Trust & Confidence Survey also found that women remained significantly less confident in the pensions industry than men, while younger savers continue to show the lowest levels of engagement with their retirement planning.

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