Staff fail to notify pension providers of change of address

More than a third (36%) of employees in a private sector pension scheme have failed to notify providers of their change of address since 1996, placing them at higher risk of losing their fund through identity theft. Aon Consulting’s Pensions research 2007 found that younger employees were the least likely to notify a change of address. Just over half (57%) of those aged under 35 years passed on their change of address details to their pension provider, whereas 73% of staff over 55 years of age said they do so.