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The lack of engagement with pensions is frightening, Clive Boltons, Aviva UK Life’s managing director of retirement solutions, said. “Ask most people what they earn now and they’ll have a pretty good idea, sometimes down to the penny, but most people have no idea what their pension is worth.

A pension is your salary when you’re no longer working. Surely it deserves more than a glance at a statement once a year.”

 

 

Figures have come out to show that more than a quarter of savers never review the state of their retirement savings, according to a survey by Aviva.

 

Up to 32 percent of women are neglecting their retirement savings completely. In a survey that was taken recently, of 1,000 people, that also found that a fifth of those with a pension only checked its progress once every five years.

 

Peter Walker, chief operating officer of Smart Pensions, was more optimistic. He said efforts at member engagement proposals had met with very little response, but added: It’s going to take time. At the moment nobody’s auto enrolment pot is very large, so it doesn’t figure very large in their thinking. But over the years it will grow, and so I would look for more engagement over time.

 

Here at One Stop Finance we can take a look at any of your pensions and make sure they are heading the right way!

 

If you have questions to ask you are more than welcome to call us on 020 8441 2605, or 01442 232 272, or email us at infolondon@osfg.co.uk