UK employees are seeking support with their pensions, but many are turning to informal or unregulated sources, while others are not taking any action at all, according to new research from financial wellbeing and retirement specialist WEALTH at work.
The study of 2,000 UK workers who have a defined contribution pension found that more than one in ten (14%) employees have not sought any pensions guidance at all. Among those who have, over a quarter (28%) rely on informal input from friends, family, colleagues, AI tools or online forums, rather than trusted or regulated sources.
This reflects a wider trend identified by Mintel, which shows that 30% now rely on finfluencers or AI tools to support their learning when making financial decisions. However, as these sources operate outside UK regulation, accuracy is not guaranteed and accountability is limited – raising concerns about the risk of misinformation and poor outcomes when making important decisions such as retirement planning.
In addition, WEALTH at work’s research found that workplace support remains underutilised, with just over one in ten (12%) employees turning to their employer for pension guidance, compared to a quarter (25%) of people who go to their pension provider.
This comes despite growing demand for support. The research shows that nearly a quarter (23%) of employees would like financial education and one-to-one guidance from their employer, while almost one in three (30%) say they feel unsupported by their workplace, up from around one in four (26%) the previous year – highlighting a widening gap between the support employees feel they get and what they currently access.
This comes as the Pension Schemes Act, introduced in April 2026, continues to drive greater focus on how individuals are supported in accessing their pension savings, reflecting a broader shift towards improving retirement outcomes and the quality of support available to individuals.
Jonathan Watts-Lay, Director, WEALTH at work, comments: “People clearly want more help with their pensions, but many aren’t using trusted sources. This can present significant risks, especially if important decisions are based on informal or unverified information found online – particularly given the rise of ‘finfluencers’.
“Whilst support is often already available through the workplace, not everyone is using it. This could be because people aren’t aware of what’s on offer, or because it doesn’t always feel relevant or easy to engage with.
“Getting the right help is becoming more important than ever. This is especially relevant given that unregulated sources of information are become more prominent. If you’re unsure about your pension or what your options are, it’s worth checking what support your employer offers – whether that’s financial education, one-to-one guidance or access to investment advice – as this can help you make more informed decisions about your future.”