Six in 10 people ‘don’t know’ their pension is invested, according to a survey by Opinium, on behalf of Hargreaves Lansdown (HL).

The survey of 1,200 people, undertaken in April 2025, also revealed that men were far more likely to know their pension was invested - 51 per cent compared to 28 per cent of women.

HL head of workplace saving analysis, Clare Stinton, said the research showed savers risked missing a “golden opportunity” to take control of their retirement planning.

“Understanding more about how their pension is invested can help people appreciate its growth potential and make the most of their contributions,” she continued.

"When we break it down by gender, women are far less likely to know their pension is invested.

"Alongside contribution rates, investment performance plays a huge role in determining how much you’ll retire with, and given that women typically retire with far less than men, understanding where their pension is invested could be a powerful first step toward closing the gender pension gap," she said.

Stinton suggested that a key reason people may not realise their pension is invested is that they’ve never had to make an investment decision about it.

“When you are automatically put into a workplace pension by your employer, your money is typically placed into a default fund. These funds are designed to be solid, steady, and diversified, meaning your money is spread across various investments, helping to cushion you from market ups and downs.

"But by nature, default funds are built to be a one-size-fits-all solution," Stinton argued, adding that while the default fund is designed to be a "solid hands-off option," it isn't tailored to individuals.

Consequently, Stinton urged savers to “take more control” to find funds which better match their risk appetite.

“If you want to find out more, you can speak to your provider to see what educational resources they offer, such as webinars, fund factsheets, or articles.

“You may also wish to speak to a financial adviser to make sure you’re comfortable with how you’re invested,” she added.

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