One major concern shared as State Pension age continues to rise - Liverpool Echo
- A study reveals that many nearing retirement lack State Pension age knowledge.
- Lack of awareness is due to the increasing State Pension age affecting planning.
- The State Pension age rises incrementally for those born after April 6, 1960.
- Research shows around 60% knew their SPA, but 18% overestimated it.
- Knowledge gaps may lead to poor decisions about savings and retirement timing.
13 Articles
13 Articles
Britons receive urgent state pension age warning as 'thousands misunderstand' DWP rule
Thousands of Britons are misunderstanding their state pension age, according to new research from the Institute for Fiscal Studies (IFS).The study revealed significant knowledge gaps among those approaching retirement.Just four-in-10 people with a state pension age between 66 and 67 correctly know their SPA within three months.A concerning 42 per cent overestimated when they can claim their pension, while 12 per cent underestimated it.Five per c…
State of confusion: Half of UK adults in the dark about the State Pension according to Standard Life - IFA Magazine
There is a widespread lack of awareness around the state pension, with many adults unsure of how much they will receive and when they will start receiving it, according to new research1 from Standard Life’s Retirement Voice report. As the full new state pension rises to almost £12,000 a year, half of UK adults (50%) are unaware of how much they’ll receive from their state pension, including 31% of those nearing retirement, aged 55-64. Meanwhile,…
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