2.5 million to rely on state pension

In a survey of over 750 workers, B&CE found 2.5 million workers believe a state pension of £84.25 a week for single people will provide for them in retirement, although 27% admit they have no idea how much the state pension is, and 21% guessed it is a figure higher than the actual amount. Meanwhile, 11% of those surveyed would rely on government benefits if they had to retire before they could claim their state pension, an issue of particular importance as the government plans to increase the state pension age for both men and women to 68 between 2044 and 2046. And according to B&CE the...