One in seven adults have never checked their pension – Standard Life

One in seven UK adults have never checked their pension, research from Standard Life found.

The survey showed 14% of people had never looked at their pension pot, even though most check other financial products more regularly.

Those closest to retirement were less likely to have engaged with their pension. 

Among over 55s, 17% said they had never checked their pension, compared to 12% of 18 to 34-year-olds and 8% of 35 to 54-year-olds. 

Women were slightly less engaged than men, with 14% saying they had never checked their pension, compared to 11% of men.

Over half (56%) reviewed their pension at least once a year.

Only 9% checked their workplace pension every week. 

In contrast, 35% reviewed their cash savings weekly, and 18% checked investment accounts at least once a week.

Among those who did check their pension in the last year, 20% looked at their forecasted retirement balance. 

Smaller numbers took further action: 14% topped up contributions, 11% adjusted their investment risk level, 10% made a one-off payment, and 9% consolidated their pensions.

Gail Izat, managing director for workplace pensions at Standard Life, part of Phoenix Group, said: “Your pension pot might not need daily attention like your bank account, but checking it at least once a year is a smart move. 

“It helps you understand how much you’ve saved, what that could mean for your future, and whether you might want to make changes like increasing contributions or reviewing your investments. 

“Regular check-ins can also help shape the type of retirement lifestyle you’ll be able to afford.”

Izat added: “With one in seven people never reviewing their pensions, many risk missing opportunities to boost their savings – or even risk losing track of their pots altogether. 

“As retirement gets closer, staying on top of your pension becomes even more critical, yet it’s worrying to see how many over 55s have never looked at their balance. 

“The process is very simple, and if you’re unsure how to start, your pension provider or employer can guide you through it.”