Non-advised pension savers 'worse off'

clock •

Pension savers who do not take advice are more likely to lack retirement planning knowledge and be £200 a month worse off, according to research.

A report from webiste Unbiased and Standard Life, Value of Advice, showed 51% of those who did not take advice for their pension did not know how much they had in their retirement pot. Of those that did receive advice only 27% did not know how much they had in their pension fund. According to the report, those that sought advice were not only more knowledgeable about their pension, they could also be as much as £232 a month better off. Dave McGovern, head of retail marketing at Standard Life, said the report highlighted that those who sought advice had a clearer awareness of their ...

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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Three former directors sentenced in £70m pension fraud case

Three former directors sentenced in £70m pension fraud case

3,000 people defrauded

Sophia Panayi
clock 04 September 2026 • 2 min read
PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

Consultation closes today

Sophia Panayi
clock 24 August 2026 • 3 min read
Top recommended personal pensions and SIPPs in H1 2026

Top recommended personal pensions and SIPPs in H1 2026

Royal London and Aviva take top spots

Isabel Baxter
clock 12 August 2026 • 2 min read