Aviva tells customers to engage with their pension

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Aviva tells customers to engage with their pension

Fri 28th Aug 2009

Aviva has told people that they do not know enough about their pensions, but that they are not completely to blame.

Paul Goodwin, head of pensions marketing at the organisation, said that many people do not know what they are paying or what they are getting out of their pensions.

But he stated that pension providers will often send customers excessive amounts of paperwork, which makes people switch off.

He suggested making it easier by changing the format of the information sent out, as he felt the pensions industry has to try to encourage people to engage with their investment.

"It is absolutely vital to be aware and it is important to take as hands-on an approach as you feel you want to, or are able to," he added.

Over two million people are not sure where their pension money is invested and 48 per cent only rarely check their pensions options after their initial investment, according to a report by Lincoln Financial Group released this week.

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