More than a quarter of savers (28%) have never reviewed their retirement savings, according to figures from Aviva.
Analysis of 9498 people between January and December 2015 by the insurer showed the number of women not engaged with their pension was particularly high.
Here, almost a third (32%) said they never reviewed their savings, compared to a quarter (25%) of men.
Almost a fifth (19%) of those with a pension said they reviewed it less than once every five years.
Aviva released the figures to coincide with the launch of the Pension Finder Alpha project's white paper. The paper is the culmination of work by a cross-industry group exploring the components needed to create a Pensions Dashboard which should increase engagement.
Aviva UK Life retirement solutions managing director Clive Bolton said: "The lack of engagement with pensions is frightening. Ask most people what they earn now and they'll have a pretty good idea, sometimes down to the penny, but most people have no idea what their pension is worth. A pension is your salary when you're no longer working. Surely it deserves more than a glance at a statement once a year.
"Our figures show urgent action is needed to encourage people to take an active interest in their retirement savings. It seems the main thing that does cause savers to act is the arrival of their annual pension statement.
"We believe the introduction of the pension dashboard would build on this and prompt more people to take action to ensure they are doing all they can to save for their retirement," he added.
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