People urged to grow their pensions as 52% ‘have never checked their pot’

Becky O’Connor, head of pensions at PensionBee, says it is important to start building a pension early.

She said: “As any gardener knows, you need to put in hard work to get the result you want.

“Growing a decent pension is arguably less graft than an annual veg patch once your contributions are established.

“Having a workplace pension – or a personal pension if you are self-employed – makes it easier to look after your long-term financial security. Starting early and maintaining consistency is important.

“Thankfully, the stock market does a lot of hard labour on behalf of savers, alongside tax relief and any employer contributions. Together, these features are the bedrock of decent retirement savings that can hopefully be enjoyed for many years to come.”