Retirement Savers Lack Understanding, Pensions Fund Says

By Lucia Osborne-Crowley (January 6, 2022, 4:33 PM GMT) -- Only one in two pension savers in Britain are concerned about knowing how much their retirement pot is worth, and almost half have never discussed it with a financial adviser, a new study has shown.

The Pension Protection Fund, the U.K.'s savings lifeboat fund, said that a new survey it has conducted shows that defined benefit pension holders lack understanding of their retirement savings — or interest in them.

Some 75% of savers do not know that their pensions are protected by the fund, according to the data published on Tuesday. That misconception led 60% of people to consider moving away from their...

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