Almost half of those with a pension have no idea how much it will give them in retirement, according to a new survey from Aviva Life & Pensions Ireland.

The research also revealed that 61% of people who don't have a private pension are unaware as to how much the State pension is on a weekly basis.

38% thought it was slightly less than the €248.30 per week, 23% thought it was more, with some believing it was as high as €302.30 weekly.

35% of those surveyed who have a pension said they receive an annual statement from their employer, while 11% said they have a financial advisor who provides them with regular updates.

The research findings also reveal that just over half of those surveyed who had a pension are aware of the percentage of their pension that they can take tax free on retirement.

Of the 46% who estimated the 25% tax free lump sum incorrectly, 20% thought it was up to as much as 45%.

Meanwhile, almost 60% of those who have a private pension said that they are looking forward to retirement.

This is in sharp contrast to those who don’t have a private pension, with only 21% of them saying that they are looking forward to it.

The survey of 1,400 people nationwide was conducted by iReach Insights on behalf of Aviva.