New research reveals education impacts pension pots

Two hands hovering over a pile of coins that have a small plant growing out of them

A recent survey has unearthed that adult Britons with a private education were more likely to have learned about savings while studying.

The study also found that privately educated people surveyed had significantly greater holdings in their pensions than those with a state education, and 43 per cent aged between 35 to 44 reviewed and revised their pension pot once a year or more.

The news comes as UK pension campaigners state that Britons, regardless of their background, must not be left behind.

UK savers keen to make the most of their pension pots often consult experts in retirement planning in Chester, Birmingham and other cities. Wealth managers create tailored plans for clients that meet their needs and goals for retirement, ensuring they have sufficient provisions for both themselves and their dependents.

The survey unearthed that 20 per cent of privately educated people learned about pensions when they were at school compared to 6 per cent who had a state education. While over two-fifths of people with a private education reassessed their private pension at least once per year, less than one fifth of state-educated people undertook the same review.

People educated privately were also far more likely to have a private pension other than an employment related pension (40 per cent), compared to with state educated people (26 per cent), the research found.

Finally, the average pension pot size for UK citizens educated at a state-run school was reportedly £112,765, while £302,782 was the average for Britons with a private education.

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