Employers can boost engagement by giving staff control and visibility over pensions, according to new research from Pensions UK.
It found that 28 per cent of savers cited employer communications as a key source of information, 77 per cent wanted to see all their pensions in one place and 61 per cent supported automatic consolidation of multiple pots.
It also found that nearly four in five savers want to have a say in how their pension is invested, while 77 per cent want to see all their pensions in one place and 61 per cent support automatic consolidation of multiple pots.
The research highlights how UK pension savers want simpler, more accessible ways to manage their retirement savings.
The findings also show that email is the preferred communication channel for 62 per cent of savers, followed by websites at 44 per cent and paper statements or letters at 37 per cent, alongside mobile apps and official Government updates, each used by 30 per cent. Employer communications also play a role for 28 per cent of respondents, and financial advisers or in-person advice remain relevant for 24 per cent.
According to the research, newer digital channels continue to attract lower engagement as video guides are used by 13 per cent, webinars by 7 per cent, social media updates by 6 per cent and AI or chatbots by 5 per cent, although interest rises among 18 to 24-year-olds, where social media reaches 11 per cent and AI or chatbots 8 per cent. Only 4 per cent of savers say they do not want to receive any pension information.
The research also identifies significant confidence gaps, particularly around how much to save for retirement at 28 per cent, planning an adequate retirement income at 26 per cent and understanding the impact of inflation on future income at 25 per cent, alongside around 20 per cent who struggle with pension tax rules. A further 20 per cent say they are unclear about how much they hold across all their pensions, and concerns also extend to investment choices at 15 per cent and responsible pension options at 10 per cent.
It also suggests clear support for measures that improve visibility and control, as 77 per cent want to see all their pensions in one place and 61 per cent support the automatic consolidation of multiple pots, reinforcing the importance savers place on transparency, engagement and long-term security.
Pensions UK deputy director of strategic policy and research Matthew Blakstad says: “Many pension savers want to engage with their retirement savings, and have the relevant information at their fingertips. They want to see all their pensions in one place, combine pots automatically, and make informed decisions about how their money is invested.
“Providers and the Government must make pension information clear, simple, and accessible through the channels people actually use. Improving communication is not just a convenience, it is essential for helping these savers take control of their retirement.
“As we gear up for the new year, with personal finance planning top of people’s minds, and with yet more changes coming to pensions policy, there is no better time than to act on these findings. We believe that every pension member who wants to engage should have easy access to relevant information, so they can understand their options and engage confidently with their savings.”
