Almost half of Britons who hold a pension do not know how their pension is invested, new research has revealed.

The study, conducted by Barings Asset Management, highlights a "worrying apathy towards pension investment" in the country, according to chief investment officer at the firm Marino Valensise.

A total of 45 per cent of those surveyed said they do not know whether they opted for the default investment option when they last checked their pension options.

Of those who were aware of their choice, 35 per cent said they had selected the default choice, with the remaining 20 per cent picking where the pension is allocated themselves.

"Far too many people do not know how their pension has been invested and many are happy to accept the default setting," Mr Valensise remarked, adding individuals looking to choose investment options should seek the advice of a financial specialist.

There is also room for improvement regarding the awareness of pension benefits, as a survey published by Zurich earlier this month revealed 22 per cent of staff who work for employers that provide pensions are not taking advantage of the offerings.

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