Pensions - Articles - Over 10m pension pots go unchecked by savers

 Clive Bolton, Managing Director, Retirement Solutions, Aviva UK Life, said:

 “An alarming proportion of the UK’s pensions pots are being left unmonitored, with many simply ignoring their pension statements and hoping for the best. At the heart of this is how involved people are with their pensions – and while they can seem complicated there is lots of online support to help people make sense of their retirement savings.

  

 “At the very least people need to understand what their total savings are across all of their pension pots, so they can plan in an informed way for their retirement.

  

 “Having multiple pension pots can make things more complicated, but it doesn’t necessarily have to if people keep careful track of their savings. However, our research has shown that many people find managing their pensions difficult, and consolidating could therefore make it easier for them. If they do wish to consider consolidating, then it’s important they take financial advice if they have valuable guarantees attached to their existing pensions.”