The government should move to further simplify the state pension with the inclusion of a forecast of what people can expect to receive when they hit retirement, says Martin Palmer, head of Zurich UK Life's corporate funds proposition.
The call comes in the wake of a new survey from consumer group Which? that showed that, with the new state pension arrangements taking effect from 6 April, there is still widespread confusion among those approaching retirement age even about such basic issues as the official retirement age. The Which? report, which canvassed the views of 1,000 people aged between 50 and 64 in February about the upcoming changes to the pension system, found just one in five (21%) of those approaching the state pension age knew this will be 65 for both men and women as of November 2018. It also found only ...
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