Tag: pension awareness

UK State Pension Age Change Leaves Thousands Confused About Retirement Plans

Many nearing retirement in the UK are unaware of the upcoming state pension age increase from 66 to 67, beginning in April 2026. A study by the Institute for Fiscal Studies reveals that 42% of affected individuals overestimate their pension age, while 16% are either unaware or underestimate it, potentially leading to financial challenges. This issue is more pronounced among those with lower wealth, emphasizing the need for better communication.