Job-hopping workers 'oblivious' to pension damage

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Over half of Britons do not know how to access previous private pension schemes and 60% do not know they can combine pension pots at retirement, Aviva says.

Though 28% of full-time workers expect to contribute to two or more private pension schemes as they change jobs, the majority do not know they can combine them, and 37% do not know they need to take action on savings when they switch jobs, an Aviva study claims. The research says one in three people will have five jobs throughout their lifetime, but more than one in three people expect their previous employer to deal with their pension when they move on, and 29% refuse to think about the issue until they near retirement. "When it comes to retirement, not only should people be shopping...

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