CONFUSING language about pensions is deterring people from saving for their old age, a Government minister claims.
Lord Hunt, minister at the Department for Work and Pensions, said financial jargon used in documents was one reason people were reluctant to sort out a private pension.
He said: "People find it difficult to cut through the jargon.
"I am keen to see more use of plain language to enable people to understand the issues."
Lord Hunt was speaking in Leeds during public consultations over the country's growing pensions crisis.
A Government commission - due to report at the end of this month - has outlined options such as raising taxes, increasing the retirement age and boosting private savings as ways to make up a reported £57bn shortfall in the amount people are saving for retirement.
Lord Hunt said value of pensions was set to fall by 30% against average earnings over the next 40 or 50 years unless something was done.
He said: "We are all living longer, which is great, but we want to make sure everyone has a reasonable pension to enjoy those extra years.
"There are no easy options. Whatever we decide, it will involve some hard choices."
Speaking to the Examiner, Lord Hunt said people were alert to the pensions crisis, but said the Government was keen to find a solution which would hold good for the next 40 or 50 years.
"We cannot afford to chop and change," he said.
"That is what has happened in the past and it affects public confidence."
