Only two-in-five (40%) adults know where all their private and workplace pensions are held.
One-in-six (16%) do not know where any of their pensions are held at all.
A new study from Aegon, published ahead of this week’s Pension Awareness Day, reveals that more than a third (36%) of adults do not know where all their pensions are held, with 20% only knowing where some are.
A further 24% say they do not have a pension.
Understanding pensions also remains a challenge, according to the research. More than seven-in-ten (72%) pension savers say they open their annual pension statement and 69% read it, yet only 55% say it helps them understand whether they are saving enough for retirement.
The research also found that almost a third (30%) of pension savers never check where their pension is invested, while only 21% do so at least monthly.
Nick Roy, commercial director of Workplace at Aegon, said: "Only two-in-five adults know where all their pensions are held. For many people, the challenge isn't a lack of interest in planning for the future, it's keeping on top of pension pots accumulated across different jobs and different stages of their working life.
"As people move between employers and build up multiple pension pots, it's easy to lose track of what you've already saved. Before people can decide whether they're saving enough for retirement, they first need to understand what retirement savings they have and where they are held.”
He said the firm’s Mylo at Aegon service helps locate lost workplace pension pots and bring pensions together to create a clearer view of retirement savings.
• Research conducted by Opinium on behalf of Aegon UK between 14 and 18 August, using a nationally representative survey of 2,000 UK adults.