Over a third of jobseekers do not ask about pensions when changing jobs – M&G

Research by M&G found that 36% of people who changed jobs in the last five years did not ask about their new employer’s pension scheme during the recruitment process. 

Only 6% of jobseekers asked about the pension scheme at the first interview, and just 12% did so at the final interview. 

The research also showed that 40% of full-time workers do not know how much their employer contributes to their pension, and 43% have never changed their own contribution levels.

Nearly a quarter (22%) of people said the workplace pension was the benefit that most influenced their decision to accept a job, behind salary (48%) and flexible working (25%). 

The data showed women were more likely to value flexible working (27%) and holidays (24%), while men placed more emphasis on pension packages (26%) and bonus schemes (16%).

M&G’s research also found that 25% of workers have lost track of old pension pots. 

Kerrigan Procter, managing director, corporate pension solutions at M&G, said: “When applying for a job, checking the pension scheme on offer is essential. 

“Too many people are missing out because they don’t ask, or the information isn’t readily available.