Almost half (42%) of respondents have never made a change to their defined contribution (DC) pension investments, according to research by Alliance-Bernstein.
In their defined contribution survey, which questioned 500 employees who save into a DC pension, found that 22% believe changes to pension investments are not their responsibility.
The research also found:
55% of respondents either do not open or only skim read the letters and emails circulated by their pension provider.
41% of respondents believe it is sufficient for their DC pension investments to be monitored for adjustments at least once every six months.
73% of respondents either have no idea or just a vague idea of the date they will retire.
53% of respondents aged over 55 are unsure of their retirement date.
Source: Alliance Bernstein
Credencis say: All pension savers need to review their strategy every year to ensure the fund continues to perform to their expectations and meets their risk profile.
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