Many women confused about pension age

Posted on 20 June 2011

One in five women aged between 50 and 53 wrongly believe they will receive a state pension at the age of 60, research has revealed.

This indicates that many believe they can retire and possibly start choosing a care home before it is actually financially feasible.

The research, conducted by Age UK, found that 21 per cent of the women are unaware they must wait until the age of 65 to start receiving their pension.

Moreover, the government may soon raise the women's pension eligibility age so it is on a par with that of men, with plans to do so being brought forward from 2020 to 2018.

Michelle Mitchell, charity director at Age UK, said: "Telling these women, at short notice, that they now have to wait up to another two years to collect their state pension is unfair."

This follows research from Informed Choice, which found that women are more "clued up" when it comes to pensions.

Posted by Nigel Murphy

 

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