Between school runs, nursery fees and the never-ending list of things kids need, it’s no surprise that “check my pension” rarely makes it to the top of anyone’s to-do list. But research into how UK workplace pensions have actually performed over the past decade suggests it might be worth a spot on that list after all, whether you’re a parent juggling childcare costs now, or a grandparent starting to think about how your own pension will support you (and maybe the grandkids too) further down the line.
232% versus 88%: the numbers behind the headline
Picture two pension pots. Same monthly contributions, same number of years, same everything, except one grew to more than triple its starting value over the past decade, while the other barely doubled. That’s not a hypothetical: it’s what Corporate Adviser, an independent pensions publication, actually found when it compared UK DC master trust default funds up to the end of 2025, with growth ranging from 88% at the bottom of the table to 232% at the top.
TPT Retirement Solutions was one of the providers included, coming in third, and pointed to the results as a reminder that a familiar provider name or a low fee doesn’t guarantee strong performance underneath it.
What that means for your family’s finances
Behind that headline number is something most of us never think about: most people never actually pick the fund their pension money sits in. Employers choose a pension provider, that provider sets a default fund, and unless you specifically asked for something different, that’s where your contributions have been going the whole time.
Two families saving the same amount, for the same number of years, could end up with very different-sized pension pots at the end of it purely because of that one behind-the-scenes decision. For a parent trying to balance nursery fees against retirement saving, that’s a good reason to check the pension is pulling its weight, not just that money is going in.
For a grandparent already helping out with the cost of raising grandchildren, whether that’s school uniforms, days out or simply lending a hand when it’s needed, an underperforming pension is money that could otherwise be doing exactly that.
Checking is fairly straightforward: a pension statement will show performance, not just contributions, and most providers should be able to confirm which fund a saver is actually in if asked directly. If the numbers look weak compared to what other funds have managed, a financial adviser can talk through the options. None of it takes long, and it has the potential to make a real difference to what a family pension can actually support down the line.
Image: Depositphotos
