Job-hopping workers 'oblivious' to pension damage

clock

Over half of Britons do not know how to access previous private pension schemes and 60% do not know they can combine pension pots at retirement, Aviva says.

Though 28% of full-time workers expect to contribute to two or more private pension schemes as they change jobs, the majority do not know they can combine them, and 37% do not know they need to take action on savings when they switch jobs, an Aviva study claims. The research says one in three people will have five jobs throughout their lifetime, but more than one in three people expect their previous employer to deal with their pension when they move on, and 29% refuse to think about the issue until they near retirement. "When it comes to retirement, not only should people be shopping...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Scotland Investment Roadshow 2024: Last chance to join PA in Edinburgh and Glasgow

Scotland Investment Roadshow 2024: Last chance to join PA in Edinburgh and Glasgow

The Scotland Investment Roadshow kicks off next week

Professional Adviser
clock 18 September 2024 • 2 min read

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •