- Friday, 25 September 2009Nearly half of UK employees have failed to check their pension plan since opening the policy.
That is according to research from Baring Asset Management, which has revealed that 48 per cent of people with pensions have never checked them.
Those who are confused by their finances - including their pension - could consider speaking to a debt advisor for clarification.
Anna Sofat, director at financial planners ADDIDI Wealth, said that people with a pension should consider it as they would their regular bank balance and stay in control of it.
She commented: "If [people] put money in a bank they wouldn't forget about it, but effectively because they are not going to take benefit from it for a very long time so the pension is not very real to them."
The research from Baring Asset Management also found that of those people that have checked their pension, 37 per cent are unaware of how it has been invested.
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