A staggering 13.6m Britons have never reviewed their pension plans while a further 2.2m have not done so in the past five years, according to Barings Asset Management.
Research also found UK citizens are taking less interest in their investments, despite increased market volatility, as just 22% have reviewed their pension asset allocation in the past twelve months, compared with 28% the previous year. Of the 46% of people who have reviewed their pension plans, 41% could not remember or did not know whether they had chosen the default investment option. Barings research also found 40% of people had simply chosen the default option and only 19% claim to have chosen the fund allocation themselves. While 55% of people were clear on the asset allocation o...
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