You are here: Home - Retirement - Retirement planning - News -

Do you know how much your employer puts into your pension?

0
Written by: Adam Lewis
17/11/2016
Over half of people have no idea how much their employer contributes into their pension according to new research.

The research from Just Retirement of 3,000 people over the aged 21 was released to coincide with Financial Capability Week, which takes place between 14 – 20 November with the aim of raising awareness of people’s ability to manage their money well.

However while the research shows people value pension savings, 58% don’t know how much their employer contributes, while 43% would battle to identify how much they put in.

Not only were people unsure of how much was being contributed into their pension, 35% of those surveyed were unaware which company or provider their company workplace pension was with, while 19% didn’t know if their partners had pensions or not.

Commenting on the findings, Stephen Lowe, group communications director at Just Retirement, said: “As we mark Financial Capability Week, it is clear that in order for people to be in a position to ‘manage their money well’, they need to fully understand what, how and where they are saving for retirement.”

He added: “With a significant proportion of people disengaged with at least some aspects of their retirement saving, it is vital that when they do reach retirement they make use of the impartial and free to use Pension Wise service. Making potentially life-altering decisions without receiving guidance exposes people to risks and decisions that may be irreversible.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

How to get 5% interest without tying up your savings for years

You don't have to lock your money away to get an above-average return on your savings.
How to get 5% interest without tying up your savings for years

Top savings accounts now pay over 4%

Savers can now access interest rates of over 4%, following the Bank of England’s decision to increase the base...
Top savings accounts now pay over 4%

Friday 30 September: Three deadlines you can’t afford to miss

It’s the end of the month today and this date is significant for energy billpayers, anyone with notes lying ar...
Friday 30 September: Three deadlines you can’t afford to miss

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week