Over a Third of Job Movers Fail to Inquire About Pension Schemes During Hiring Process
A significant survey conducted by savings and investments firm M&G has uncovered a concerning trend among UK workers. The research indicates that more than a third of individuals who started a new job within the past five years completely neglected to ask about their new employer's pension scheme at any stage of the hiring process.
Key Findings from the M&G Survey
The comprehensive study, which involved 2,000 people across the United Kingdom in September 2025, revealed several startling statistics about pension awareness during job transitions. Specifically, 36% of respondents admitted they never inquired about the company pension when moving to a new role. This lack of inquiry occurred despite workplace pensions being identified as a crucial factor in employment decisions.
Further breakdown of the data shows that approximately one-fifth of job movers waited until they received a formal job offer before asking about pension details. Even more concerning, 16% of respondents—equivalent to one in six—delayed their inquiries until after they had already accepted the position. Additionally, 12% of those surveyed only raised questions about the pension scheme during their final interview for the job.
The Disconnect Between Values and Actions
Interestingly, the survey highlighted a significant gap between what employees value and what they actually discuss during job applications. When participants were asked which benefits most influenced their decision to accept a role, workplace pensions ranked as the third most important factor. Salary was predictably ranked first, with flexible working options coming in second place. Holiday allowances tied with pensions for third position.
This discrepancy suggests that many workers recognize the importance of pension benefits but feel unable or unwilling to broach the subject during hiring negotiations. Kerrigan Procter, managing director of corporate pension solutions at M&G, emphasized this point, stating that checking the pension scheme on offer is essential when applying for a job. She noted that too many people are missing out because they don't ask, or because the information isn't readily available from employers.
Broader Pension Administration Challenges
Separate research conducted by M&G in collaboration with the Social Market Foundation, involving 3,000 UK residents, revealed additional challenges in pension management. The findings indicated that many workers struggle to keep on top of their pension administration. Specifically, 40% of full-time workers surveyed did not know their employer's contribution rates to their pension.
Furthermore, 43% of respondents have never adjusted their own pension contributions, and a quarter (25%) have lost track of previous pension pots from past employment. These statistics paint a picture of widespread disengagement from retirement planning among the workforce.
Call for Greater Transparency and Action
Procter has called for employers to take proactive steps to address this issue. She suggested that companies should make pension details clear and upfront in job advertisements. When combined with a simple pension health check at each job move, that transparency could make a huge difference to people's financial security. She emphasized that pensions need to be impossible to overlook in the employment process.
Top Benefits Influencing Job Acceptance Decisions
According to the M&G survey, here are the primary benefits that influenced workers' decisions to accept a role, along with the percentage of people who cited each factor:
- Salary - 48%
- Flexible working/work from home options - 25%
- Workplace pension package - 22%
- Generous holiday allowance - 22%
- Bonus scheme - 13%
- Professional development/training budget - 13%
- Health insurance or other medical benefits - 13%
- Support with health and wellbeing - 10%
- Support with personal finances - 8%
The survey results underscore the critical need for both employees and employers to prioritize pension discussions during the hiring process. With retirement planning becoming increasingly important in an uncertain economic climate, addressing this communication gap could significantly impact long-term financial security for millions of workers across the United Kingdom.
