An apathetic attitude to pensions is prevalent in the UK, new research by Baring Asset Management has revealed.
As such, the group has urged people to review the asset allocation of their pension portfolio on a regular basis to ensure it corresponds with their age and lifestyle commitments. Findings from the research showed that 13.6m people in the UK have never reviewed their pension plans whilst a further 2.2m haven't done so in the past five years. Just 22pc of respondents had reviewed their pension asset allocation in the past 12 months, compared with 28pc the previous year. The survey showed that of the 46pc of people who have reviewed their pension plans, 18pc could not recall choosing the ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes