One in five (20 per cent) UK workers with a defined contribution (DC) pension took no action to engage with their retirement savings during the past year, despite widespread concerns about retirement affordability, research from Wealth at Work has found.

The study found that this figure rose to 26 per cent among those aged between 44 and 54.

Meanwhile, 14 per cent said they never reviewed their pension, either because they had not felt the need to do so or did not know where to check.

This came despite 38 per cent of respondents fearing that they would never be able to afford to retire, highlighting a disconnect between workers’ concerns and the action they were taking to improve their retirement outcomes.

The research, conducted by Opinion Matters among 2,000 UK workers with a DC pension between 29 May and 3 June 2026, also found limited engagement among those who had taken action.

Only 40 per cent had checked the value of their pension in the past year, while 28 per cent had logged into their pension account or app.

Among workers aged over 55, just 27 per cent had examined how much income or savings they might have at retirement.

Meanwhile, the findings also indicated gaps in employees’ understanding of pension saving, as 27 per cent were unaware that their pension contributions were invested.

However, almost a third (32 per cent) said they wanted a better understanding of how their pension was invested, while 36 per cent wanted more information about how much they would need to retire comfortably.

Based on this, Wealth at Work suggested that improving pension knowledge could encourage more employees to engage with their savings and take action to address potential shortfalls.

Wealth at Work director, Jonathan Watts-Lay, noted that automatic enrolment had successfully brought more people into pension saving, but engagement had not increased at the same rate.

“Without regular interaction, employees may be missing opportunities to improve their outcomes, which includes taking steps to address any potential shortfalls early,” he continued.

“Many people are not clear on how their pension is invested or how much they need to retire comfortably, which makes it harder to take meaningful action.

“This highlights the importance of financial education in the workplace throughout people’s working lives to build understanding, confidence and regular engagement with pensions.”

He argued that workers approaching retirement should also have access to personalised guidance to help them understand their options and decide whether they required further support, including regulated investment advice.

“Our research findings point to a need for more proactive engagement in the workplace, particularly at key life stages and decision moments, combining ongoing financial education with personal guidance at retirement to help employees stay on track and achieve better outcomes,” he concluded.

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