PEOPLE in Yorkshire are more confident about their financial planning for retirement than many other parts of the UK, a new nationwide survey on pensions has revealed.

The survey, carried out by MORI on behalf of UK wealth management specialists St James's Place, questioned people throughout England, Scotland and Wales ahead of Pensions 'A' Day next April, when the most far-reaching reforms of pensions legislation for nearly a century will take place.

The research showed 42 per cent of people surveyed in the Yorkshire region were confident their financial arrangements were sufficient to fund their retirement, against a national average of 38 per cent.

Yet they did not compare well to most other UK regions for taking professional advice on their pension planning, with only 34 per cent doing so.

Significantly, 56 per cent of Yorkshire people expected to have to rely on personal savings and equity in the home to help fund their retirement. Respondents took a pessimistic view on retirement, too, with only 39 per cent expecting their funds to last more than 20 years against a national average of 47 per cent.

Mark Clifford, regional director for St James's Place, said: "These Yorkshire figures make interesting but not entirely comfortable reading. Not enough people are taking professional advice or putting sufficient money away to have an adequate retirement income."

Updated: 11:01 Thursday, September 01, 2005