Fifth of consumers never checked pension value - FSCS

Many unaware if pots are protected

Jenna Brown
clock • 1 min read

A fifth (20%) of people have never checked the value of their pension savings with a further 12% stating they do not know when they last checked up on their retirement savings, according to the Financial Services Compensation Scheme (FSCS).

Research published by the lifeboat fund also highlighted that 40% of people with pensions had not checked if their pot would be protected by the FSCS should their provider go out of business. It said those surveyed reported they had not checked if their pension is FSCS protected because they did not have time or did not know how. The FSCS said it released the findings to highlight its pension protection checker tool. It explained consumers can find out how much protection FSCS may offer on their pension by answering a few simple questions.  FSCS chief executive Caroline Rainbird(pi...

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 Regulation

Appointed representatives: Are you really in control of the risks?

Appointed representatives: Are you really in control of the risks?

'The FCA doesn't just want oversight, it wants evidence'

Paul Bruns
clock 06 October 2026 • 7 min read
Manchester City charges: Treasury Committee chair raises tax questions with HMRC

Manchester City charges: Treasury Committee chair raises tax questions with HMRC

As Tax Policy Associates points to potential £12m in unpaid tax

Jen Frost
clock 02 October 2026 • 2 min read
FCA opens authorisation gateway for crypto firms

FCA opens authorisation gateway for crypto firms

Ahead of supervisory framework coming into force

Jack Roach
clock 01 October 2026 • 2 min read