Almost one in six (16 per cent) of savers admit that they have never reviewed their pensions, research from People’s Partnership has revealed.

The survey also showed that nearly a quarter (24 per cent) of those questioned review their pension savings less than once every year, while a fifth (20 per cent) check once a year and just over one-in-ten (11 per cent) check once every six months.

However, nearly half (45 per cent) are not confident that they have put enough thought into their retirement plans, while only a quarter (25 per cent) said they were.

There were differences between groups, however, as men were nearly twice as likely (32 per cent) than women (18 per cent) to have confidence in their preparation for retirement.

Regional differences were also found, as the survey revealed that people living in the East of England and Wales are some of the least confident regions in the UK about their retirement plans, whilst people living in the London were the most confident about their retirement plans.

Published to coincide with Pension Awareness Week, People's Partnership group director of customer services, Kevin Martin, highlighted the findings as evidence that many workers are ill-prepared for retirement, which is a concern given that we know that millions of workers are not saving enough.

Indeed, the research also follows on from recent government data, which showed that nearly 4 in 10 of working adults are not saving enough for their retirement.

However, Martin stressed that there are steps that savers can take, including signing up for an online pension account, naming a beneficiary, checking your annual statement and ensuring your details are updated so your provider can stay in touch.

“The findings also show that men have more confidence in their retirement arrangements than women, which is further proof of the gender pension gap which won’t be closed without government intervention," he added.

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