Nearly a fifth (19 per cent) of savers have never reviewed how much is in their pension savings, research from People’s Partnership has found.

The survey, conducted by YouGov on behalf of People’s Partnership, found that just over two in 10 (21 per cent) savers check their pension once a year, while nearly a fifth (19 per cent) check their retirement savings once a month or more often.

However, the research also found that nearly a third (32 per cent) of people don’t know how much they have saved in all of their pension pots.

Furthermore, only one in 10 pension savers had an app for their pension.

This is compared to nine in 10 (91 per cent) who use a banking app, around six in 10 (58 per cent) who use a food delivery app, and more than four in 10 (43 per cent) who check their investments on an app.

However, more than six in 10 (64 per cent) people said they would check their pension savings more often if they had a mobile app for their pension.

“At a time when most people aren’t saving enough for retirement, it’s worrying that the vast majority of savers have never checked their pensions, leaving them with no idea how much they’ve saved, or maybe even where it’s saved,” People’s Partnership chief commercial officer, David Meliveo, said.

Meliveo said that for most people using apps for shopping, banking, or even investing, is an “everyday habit”, arguing that "when so few pension savers check their savings that way, it’s clear that the industry could do much more to engage their members and help them plan for their future”.

“Through initiatives like our new app and retirement planner, we aim to make it easier for workers to keep track of their savings and help them to make the right financial decisions for their future selves,” he concluded.

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