More than two thirds (69%) of savers would prefer their employer pick their workplace pension, increasing to 85% among those aged over 55, research from the Pensions and Lifetime Savings Association (PLSA) has revealed.

The survey found that just under a third (31%) would opt to make the decision themselves, although this preference was higher among younger savers, as 44% of those aged 18-54 would rather choose their own workplace pension.

Gender differences were also apparent, as 75% of women said they leaned towards employer selection, compared to 63% of men.

Chancellor, Jeremy Hunt, previously launched a call for evidence on plans to offer employees a choice on their workplace pension provider as part of his autumn statement, although there are industry concerns that saver confidence and knowledge may not be sufficient for this.

The PLSA's survey found that confidence was a key factor, as a "significant" 55% of employed workplace pension savers expressed minimal confidence, stating they would be either not at all or only slightly confident in selecting a pension provider.

In stark contrast, just under a fifth (19%) conveyed being extremely or quite confident in their ability to make such decisions.

Deputy director – policy at PLSA, Joe Dabrowski, highlighted the findings as demonstration of the importance savers place on their workplace pension scheme and the support their employer provides in choosing and managing high quality provision that will help deliver their retirement needs.

He continued: "As we can see, not all savers are the same, from generational to gender disparities there are clear differences in knowledge, understanding and confidence.

"While the sector examines the concept of a lifetime provider, it is important that we carefully consider the implications the model may have on good saver outcomes, especially given long-established concerns about general financial literacy, as well as the average savers engagement and understanding of pensions.

"This will be important for the majority of employees who do not want to choose their own provider and those who lack confidence in making their own choice. Equally we must protect those who may have confidence, but in most cases will not in fact have the appropriate skills or knowledge to make good choices."

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