{"id":30902,"date":"2025-07-29T10:14:42","date_gmt":"2025-07-29T09:14:42","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/07\/29\/engaging-with-your-pension-knowledge-gaps-revealed\/"},"modified":"2025-09-04T08:23:52","modified_gmt":"2025-09-04T07:23:52","slug":"engaging-with-your-pension-knowledge-gaps-revealed","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/07\/29\/engaging-with-your-pension-knowledge-gaps-revealed\/","title":{"rendered":"Engaging with your pension \u2013 knowledge gaps revealed"},"content":{"rendered":"
\n
Most UK adults lack essential knowledge about their pensions and how they\u2019re invested <\/td>A significant number don\u2019t know their State Pension entitlement or how it\u2019s calculated <\/td>Many want to consolidate pensions but don\u2019t know how to start <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
\n

New research<\/strong>1<\/sup><\/strong> has shone a light on the extent of pension knowledge gaps among UK adults. While 53% of people believe they are knowledgeable about pensions, only 35% can correctly identify a defined benefit scheme and 34% understand what a defined contribution scheme is. Additionally, 20% are unaware of their own pension type and 57% do not realise that the government contributes to pensions through tax relief.<\/strong> <\/p>\n<\/div>\n\n

\n

While over half (55%) are unaware how their pension is invested, 81% of respondents haven\u2019t altered their investment strategy, with a quarter citing it\u2019s because they don\u2019t know enough, or didn\u2019t realise they could. <\/p>\n<\/div>\n\n

\n

Almost 70% of people in the UK have between one and five pension pots, while 20% are unaware how many they actually have. Nearly a third (35%) of those who know where their pensions are, don\u2019t know how to access them. While only 15% have consolidated their pensions, 46% are interested in doing so but are unsure what steps to take to achieve it. <\/p>\n<\/div>\n\n

\n

And the State Pension?\u00a0<\/h2>\n<\/div>\n\n
\n

Half of UK adults don\u2019t know how much they\u2019ll receive from their State Pension and 32% are unaware of the age they\u2019ll qualify2<\/sup>. Over half (51%) don\u2019t know how much the full new State Pension is \u2013 it\u2019s currently \u00a311,973 a year \u2013 while 52% don\u2019t know how to find out their entitlement and 34% are unaware that National Insurance contributions determine the amount they\u2019ll receive. <\/p>\n<\/div>\n\n

\n

With your pension such a major part of your retirement strategy, you really can\u2019t afford not to be on the ball. Knowledge is crucial. We can support you to make well-informed decisions \u2013 your future-self will thank you. <\/p>\n<\/div>\n\n

\n

1<\/sup>Aviva, 2025, 2<\/sup>Standard Life, 2025 <\/p>\n<\/div>\n\n

\n

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Most UK adults lack essential knowledge about their pensions and how they\u2019re invested  A significant number don\u2019t know their State Pension entitlement or how it\u2019s calculated  Many want to consolidate pensions but don\u2019t know how to start  New research1 has shone a light on the extent of pension knowledge gaps among UK adults. While 53% […]<\/p>\n","protected":false},"author":12,"featured_media":30907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,88],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/30902"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=30902"}],"version-history":[{"count":2,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/30902\/revisions"}],"predecessor-version":[{"id":31433,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/30902\/revisions\/31433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/30907"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=30902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=30902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=30902"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=30902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}