Consumer confidence in the pensions industry remains low as the Government prepares to shake up the sector, research by consumer group Which? has found.

Just under one in five (19%) people said they trust long-term financial products such as pensions and investments and nearly three in five (57%) worry about the value of their pension.

Radical reforms which have been described as the most sweeping changes to pensions in a century are set to come into force next April.

They will help to ensure that people are saving into schemes which offer good value as well as giving them more freedom over what they do with their savings when they come to retire, rather than feeling forced to buy a lifetime income called an annuity.

Free, impartial guidance will also be offered alongside the changes to those approaching retirement which will aim to ensure that they know the full impact of what the reforms mean for them. This guidance will be delivered by bodies such as Citizens Advice.

The research carried out for Which? among more than 2,200 people found that fewer than one in three (28%) people aged 50 to 64 are currently confident that they will have the money they need to live on when they retire, while just 23% of people aged between 30 and 49 expressed this confidence.

The findings were released as a separate study from investment firm Fidelity suggested that women are more likely to be confused about what the pension reforms mean for them than men.

Fidelity surveyed 510 people who plan to retire in the coming year and found that only 41% of women felt they have a good understanding of the new pension rules versus 52% of men.

Which? argued that as many people have savings beyond their pension, there should be an easy way for people to see all their retirement income, savings and investments in one place, and for the guidance sessions to take all of this into account.

It said the Government must make sure the guidance service is "consumer friendly", keep it under regular review and take immediate action if it is not up to scratch.

The consumer group said the guidance must cover all the available options people have to them and direct them to further support or regulated advice as appropriate.

It also wants the Government to set out how different schemes will be explained to consumers so that they can understand the varying risks involved.

Which? executive director Richard Lloyd said: "The Government's pension reforms are the biggest opportunity for years to make this market work in the best interests of consumers.

"With many people uncertain they'll have enough to live comfortably in retirement, now is the time to introduce a consumer-friendly system with good quality guidance that helps people make the most of their hard-earned money.

"With only six months until the reforms come into effect, the Government, industry and regulators must all work together to ensure people get a good deal throughout their retirement."

A Treasury spokeswoman said: "The Government's pension reforms will give people the freedom to manage their own hard-earned money in retirement and are key to our long-term economic plan.

"We are working closely with the industry, consumer groups and regulators, including the Financial Conduct Authority, to put in place a guidance service that will give people good-quality, impartial information and support to help them understand their options and make informed decisions about how to put their pension savings to best use in retirement."