Over 2/3 savers unaware of where their pension is invested

More than two-thirds (67 per cent) of savers do not know where their pension is invested, according to research from Penfold.

The fintech pension company found that 20 per cent wanted to see their pensions invested in renewable energy and a further 20 per cent would invest in healthcare if given then choice.

A further 16 per cent stated that they would like to see their pension invested in the science and pharmaceuticals industry, and 16 per cent wanted to invest their pension in the charity and voluntary sector.

Penfold has teamed up with Tumelo to launch the ‘Have Your Say Dashboard’, which will allow self-invested personal pension (Sipp) holders to see where their pension is invested.

“It’s our mission to simplify the pensions industry – this means being transparent,” commented Penfold co-founder, Chris Eastwood. “We want our customers to easily see exactly where their money is invested. 

“Our new ‘Have Your Say Dashboard’ means not only can you see where your money is invested but which annual general meetings are coming up for businesses and which issues are being discussed. The dashboard will then allow you to vote on what matters to you.

“The fact that people want to see their money invested in renewable energy and the charity sector shows that people care about where their money is invested - but they can’t always easily find this information.”

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