'Millions' may have misplaced retirement savings

Figure could be as high as seven million

James Phillips
clock • 2 min read

One in every five people with multiple pension pots have lost track of some of their retirement savings, Aegon research has suggested.

Nearly two-thirds of savers (64%) have more than one pension pot, but 22% of those said they have lost track of one or all of these accounts, an increase from 21% in 2016. Another 30% said they do not know the value of their pensions, falling from 39% two years ago. The results come from a survey, commissioned by the provider, of 909 adults earlier this month, and could mean around seven million people have misplaced some of their retirement savings, once the figures are extrapolated to the general population. Head of pensions Kate Smith said the figures were concerning. "It's very...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Pensions

How retirement planning has transformed over the past 50 years

How retirement planning has transformed over the past 50 years

PPI report looks at the move from predictable pensions to personal responsibility

Jonathan Stapleton
clock 21 November 2024 • 3 min read
Act now: Planning for retirement is a concern for today

Act now: Planning for retirement is a concern for today

'Don't wait until tomorrow to think about retirement'

Andrew Tully
clock 20 November 2024 • 4 min read
Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Report published as Reeves delivered inaugural Mansion House speech

Jonathan Stapleton
clock 15 November 2024 • 4 min read