When was the last time you checked your pension funds? Do you know how much your pot is worth? And how much income do you expect to receive in retirement? If you're female you're much less likely to have the answers to these questions, according to new research by Fidelity International.
The survey questioned more than 500 people who had accessed their pension in the past year. It found that women were nearly twice as likely not to know the value of their pension as men - 27 per cent compared with 15 per cent of men. In addition, women were also less focused on the performance of their funds and more likely to review their funds less than once a year.
This lack of engagement with retirement planning risks women facing poverty in later life if they do not build a big enough pot to meet their needs.