More than one in seven (15 per cent) people never check their pension value, research from Opinium on behalf of Hargreaves Lansdown has revealed.

The research, which surveyed 1,200 people in September of this year, also found that just 4 per cent of those surveyed check their pension value every day.

According to the survey, 21 per cent of people check their pension value once a year, 21 per cent check it more than once a year but not monthly, and 15 per cent said they checked it once a month.

One reason given by Hargreaves Lansdown as to the respondent’s sporadic checking of the value of their pension was that “checking your pension every day may lead to anxiety during times of market turbulence”, although the firm also warned that “not checking it at all risks you entering retirement with inadequate savings”.

Hargreaves Lansdown senior pensions and retirement analyst, Helen Morrisey, commented: "Pensions are a long-term game, but it is good to check in periodically to make sure your savings remain on track.

“However, more than one in seven of us are risking pension peril by never checking our pension value and so have no real idea of how well prepared (or otherwise) they might be.

“This could lead to nasty shock as you get closer to retirement, and you realise you are not on track with your retirement goals and have left yourself with very little time to make up lost ground.

“It may also make it easier to lose track of old pensions you have had with previous employers, and you could be missing out on thousands of pounds in lost income as a result."

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