Research shows lack of understanding of changes to State Pension

18 November 2014

The Department for Work and Pensions (DWP) have issued research showing widespread ignorance of the forthcoming changes to the State Pension, along with a booklet to explain the changes.

The new State Pension replaces the current State Pension for people who reach State Pension age on or after 6 April 2016.

The new booklet is intended to help people understand how the system is changing. The launch coincides with the publication of new research carried out on behalf of DWP which confirms the lack of understanding many people have about the British State Pension system.

Some 42% of people yet to retire admit they need to find out more about saving for retirement, while 38% concede they “try to avoid thinking about” what will happen when they stop working. And only 60% of all adults surveyed realise it is possible to take action to increase their State Pension.