View more on these topics

Two million savers do not know who provides their pension, says Lincoln

Two million UK savers do not know which provider their pension is with or where their money is being invested, research from Lincoln Financial Group has revealed.

Forty-eight per cent of pension holders say that they rarely review their pension options once invested.

Lincoln head of products and marketing Simon O’Connor says: “With people not taking the time to review their pension options, it not surprising that the majority are still unaware of the Open Market Option and so fail to shop around to get the best annuity for them on retirement.

“More needs to be done by the Government and the industry to ensure consumers are aware of their annuity options and make sure they get the best retirement product for their circumstances.”

Recommended

Second financial planning week

The Institute of Financial Planning is holding its second annual Financial Planning Week to raise consumer awareness. It will run from September 7 to 13.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com