A partner’s pension plans could be more important than you think.
Nearly two-fifths of people in their 50s who are in a relationship say their partner has not done anything to support their retirement security.
The research, from Scottish Widows, highlights a lack of support and communication around retirement, with this figure rising to 44% among those in their 60s.
Women were particularly likely to report feeling unsupported in this area.
"We don’t talk about our pensions enough"
Susan Hope, a pension expert at Scottish Widows, said: "We don’t talk about our pensions enough.
"Our pensions should be something we chat about with a friend over a glass of wine, when teaching children about money, or planning the future with a partner.
"In your 50s and 60s, as you start to think more about your lifestyle later on in life, this is really important.
"And it’s not always financial support— a conversation and emotional support are often just as, if not more, valuable."
The study also found that fewer than one in five people in their 50s have talked about how to access their pension.
Scottish Widows commissioned YouGov to survey more than 6,200 people across the UK in February.
Ms Hope has offered some simple tips for couples to improve their pension planning together.
She suggests starting with basic life admin, such as ensuring you are receiving full employer contributions, updating beneficiary details, and tracking down lost pensions from previous jobs.
It is also important to check your state pension entitlement to understand what support is already in place.
Ms Hope said couples should build a combined financial picture by logging into accounts together and adding up total savings to get a clear starting point for planning.
She also encourages couples to talk openly about their aspirations for the future, pointing out that many have never actually discussed their retirement goals.
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For example, one partner may want to retire early, reduce working hours, or even switch to a new career in their 50s.
Finally, Ms Hope stresses the importance of supporting each other through career breaks, whether for raising children or caring for loved ones.
She believes time out of work should be seen as a shared financial responsibility.
Some couples may benefit from professional advice or resources such as the Government-backed MoneyHelper service to support their planning.
Do you pay into a pension? Let us know in the comments.
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