There has been a 71% increase in people seeking guidance since the introduction of pension freedoms a year ago, new analysis suggests.

The work, looking at enquiries made to The Pensions Advisory Service, found the most likely trigger prompting people to make an enquiry was reaching the point of retirement or beginning to receive pension payments.

The next most important prompt was when people began to save for retirement, with 17% of enquiries from those at the point of enrolling into schemes or beginning contributions.

The average age of those making enquiries was found to be 59, with two thirds made by those over 55. Those under 40 accounted for just 8% of enquiries. Men accounted for over 60% of all the 180,000 enquiries over the year, according to the analysis, carried out by Teamspirit, a communications agency,

The Pensions Advisory Service’s latest ‘Women and Pensions’ survey identified three barriers that have the most impact on behaviour: confidence, confusion and trust. Over two in five (43%) of respondents to the survey admitted they didn’t feel confident in making decisions around saving for their retirement. This was most pronounced amongst those first starting out in their career (18 – 30) and those at retirement.

Michelle Cracknell, chief executive of The Pensions Advisory Service, said: “Teamspirit’s analysis of our enquiry data helps us better understand the people taking action to find out more about their pension provision. The majority of consumers still find pensions complicated and find it difficult to take the action needed to make adequate later life provision.

“The introduction of pension freedoms has triggered a step change in awareness and engagement but there is still a way to go before people are confident on what is needed to secure their retirement.”

Richard Graham MP and Chair of the APPG on Pensions, said: ““The pensions landscape has seen a lot of change. This research shows the impact these developments, including pension freedoms, are having on consumer behaviour. It’s clear that government must work closely with industry to ensure consumers get the advantages offered and avoid the pitfalls. Long term saving matters.”