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Ignorance could be costing us millions in lost pension income

16th November 2020
Posted by Aston Avery

More than three quarters (78%) of UK adults don’t know exactly what they’ll get from their pension when they retire; not only that, but more than half (52%) have no idea how many pension pots they have and could be missing out on retirement riches, according to a new UK-wide survey from MoneyMagpie.com.

The survey results are announced as popular consumer site MoneyMagpie.com, in partnership with the UK’s leading online pension provider, PensionBee, launch a new, easy to use, free Pensions Guide, packed with simple, clear ideas to help understand your pension and have a richer retirement.

In addition, the survey reveals nearly half of U.K. adults (45%) say they will be relying on a state pension for their retirement.

Aston spoke to Jasmine Birtles, finance expert and founder of MoneyMagpie.com to discuss the research in further detail and also about the new free pensions guide.

Photo by Colin Watts on Unsplash