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: “Employees clearly want more help with their pensions, but many are not accessing reputable 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’.

“What’s striking is that while workplace support may often already be in place, it’s not being fully utilised. This raises important questions around awareness, accessibility, relevance and engagement - whether employees know what support is available, and whether it is delivered in a way that feels relevant and easy to act on.

“With new legislation placing greater focus on how people are supported at retirement, this highlights the increasing importance of workplace support that not only exists, but is effective. Workplace financial wellbeing and retirement specialists can play an important role here, helping to deliver structured financial education, retirement guidance and investment advice that supports employees in understanding their options and taking action.

“As unregulated sources become more prominent, it’s increasingly important that employers reinforce their role as trusted sources of support, helping employees make informed decisions about their retirement. Working with trusted workplace providers can play a key role in delivering this effectively.”