'Millions' may have misplaced retirement savings

Figure could be as high as seven million

James Phillips
clock • 2 min read

One in every five people with multiple pension pots have lost track of some of their retirement savings, Aegon research has suggested.

Nearly two-thirds of savers (64%) have more than one pension pot, but 22% of those said they have lost track of one or all of these accounts, an increase from 21% in 2016. Another 30% said they do not know the value of their pensions, falling from 39% two years ago. The results come from a survey, commissioned by the provider, of 909 adults earlier this month, and could mean around seven million people have misplaced some of their retirement savings, once the figures are extrapolated to the general population. Head of pensions Kate Smith said the figures were concerning. "It's very...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Pensions

Andrew Tully: The time is right for far-reaching state pension debate

Andrew Tully: The time is right for far-reaching state pension debate

Essential we get cross-party support to any changes, rather than get involved in any political ping-pong'

Andrew Tully
clock 21 July 2025 • 4 min read
Chancellor 'confident' govt will not need to mandate pension scheme investment

Chancellor 'confident' govt will not need to mandate pension scheme investment

Rachel Reeves confirmed in Mansion House speech pension funds and government ‘are united’

Holly Roach
clock 16 July 2025 • 2 min read
Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read