UK. One in five savers have three or more pensions
One in five savers in the UK have three or more pension pots, while almost half (47 per cent) have two or more, according to research commissioned by Hargreaves Lansdown.
The study, conducted by Opinium, also found that less than a quarter (24 per cent) had ever transferred a pension.
Men were more likely to have transferred a pension, with 26 per cent of male respondents having done so, compared to 22 per cent of women.
However, Hargreaves Lansdown noted that it had seen a “big rise” in pension transfers during the most recent lockdown.
The firm attributed the increase in transfers to people using the time in lockdown to get to grips with their pension admin.
“The third lockdown finally achieved what years of guilt and wasted cash have failed to do – they persuaded more people to switch their pensions,” said Hargreaves Lansdown senior analyst, Nathan Long.
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