Study reveals ignorance of state pension reforms

clock •

Almost half of people are unaware how changes to the state pension will affect them with just over 500 days to go until historic reforms are introduced, research suggests.

A poll of more than 2,200 adults conducted on behalf of the Department for Work and Pensions (DWP) found 44% do not know what impact the reforms could have on them, with just a fifth (22%) stating they did know. Only 60% of all adults surveyed realised it was possible to take action to increase their state pension, while 38% conceded they "try to avoid thinking about" what will happen when they stop working. From April 2016, the current basic and additional state pension will be replaced by a new state pension, which aims to simplify the system and make it easier for people to plan fo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

The importance of defining the roles within a SSAS

The importance of defining the roles within a SSAS

'Poor role discipline can create compliance, tax and fiduciary risk'

Caitlin Southall
clock 08 October 2026 • 4 min read
AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell has called on chancellor John Healey to commit to a pension tax lock

clock 06 October 2026 • 2 min read
Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

'Real-world consequences of allowing pension tax speculation to run unchecked'

Rachel Vahey
clock 05 October 2026 • 3 min read