A survey from the Money and Pensions Service found only a third of people have checked their pension statement in the past year
have never engaged with it, according to research, while two-thirds of adults have not checked their retirement savings in the past year.found only a third of people between the ages of 18 and 65 read their annual statement or logged on to an online platform in the past twelve months., said he had realised in the past year that he had a £70,000 pension that he did not even know he had saved for.
He eventually checked a letter sent to him by his pension provider, that he had previously ignored, and found he had £70,000 in a pension pot. “My message to anyone is to check all their letters. If you’re not sure, try and find out what pensions you have paid into, and what you have got,” he added.Checking your pension statement should be a high priority to ensure that you are fully aware of the income you’re on track to secure once you have reached retirement age.
Jackie Spencer, head of money and pensions policy at the Money and Pensions Service said: “No matter how you do it, whether you read your annual statement, contact your pension provider by phone, or log onto your online pension platform, make sure to check your pension, and encourage others to do the same.”
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