Is Your Pension On Track?

Savers are being urged to make sure their pension plans are still fit for purpose in the wake of the Covid-19 economic lockdown and stock market crash.

- Harvey Jones

Research from Aviva shows a third of savers have used the lockdown to check pension values, find out where their money is invested and adjust their contributions.

However two out of three have done nothing and this leaves them vulnerable, as volatile stock markets and the recession could force many to work for years longer than planned.

The latest Bank of England Money and Credit report shows that Britons have increased their savings by £57 billion in the three months since lockdown. Aviva head of savings and retirement Alistair McQueen urged people to put this money to work: “You need to face the challenge of funding your needs in later life.”