Two-thirds of people aged 40-70 do not speak to anyone about their pensions or pension reforms, and this could be extremely worrying if they do not actively keep up with developments, according to research.
In a survey of 1,600 people aged 40-70, conducted by pensions provider Partnership, only 31% of respondents had spoken to someone about their pensions or had started asking questions about what reforms might mean for them.
Of those who had spoken to people about their pensions, the majority (44%) had a "casual conversation" with their partners, while 16% spoke to their pension providers. Another 16% spoke to independent financial advisers and 13% spoke to their employers about their pensions. An additional 13% spoke to relatives or family friends about their pensions, while a minority (4%) spoke to their banks.
Andrew Megson, managing director of retirement at Partnership, said: "While the industry is focused on what is happening with pension reforms, it is extremely worrying to see that only 31% of 40 to 70-year-olds have spoken to anyone about these changes and many appear to simply have had a casual chat with their partner.
"While discussing aspirations for retirement is obviously important, the changes that will come into force at the start of April have the potential to significantly change how people approach retirement planning, so it is vital to get informed advice."
Partnership said engagement with the new pension regime improved as people aged. While 54% of the entire age group expressed interests in developments of pension reforms, nearly two thirds (61%) of people aged 61-70 said they were interested in the reform.
However, a minority (13%) of the latter do not follow any development in pensions due to "other things to worry about", and another 17% believe any development would not be relevant, since they were part of a pension scheme. The firm said the need for at-retirement education was high.
