A quarter of older scots not aware of their state pension age

The country’s leading charity for older people, Age Scotland, is urging Scots to take the time to find out their State Pension age (SPA) to help them better plan for the future after research revealed that 1 in 4 people aged 50-64 don’t know what theirs is.

Nearly a third of people surveyed admit they have never checked.

The research carried out on behalf of Age Scotland’s partner charity Age UK by YouGov revealed widespread confusion about SPA, even among those in their 50s and 60s.

Nearly one in five older Scots (18%) found their actual SPA was higher than expected when it was revealed during the study. For those who had previously said they didn't know their SPA, this rocketed to over half (52%). Even 1 in 10 (9%) of those who knew their age were surprised to discover their State Pension was higher than they thought.

The rise in the State Pension Age for women – from 60 in 2010 to 65 in 2018 – has heavily impacted millions and left them with very little time to re-adjust their retirement plans. Many women have been left in hardship as they struggle to manage without the State Pension and, for some, the benefits they were counting on after a lifetime of working in low-paid or part-time jobs. As of last month (December 2018), millions of women will endure an even longer wait for their State Pension –as the eligibility age continues on its course to reach 67 by 2028 for both men and women.

Almost 3 out of 5 (58%) of those surveyed for Age UK felt very negatively about the changes, with well over a third (37%) disappointed, a third (31%) angry and 1 in 7 (14%) worried.

In light of this news, Age Scotland is urging Scots to make sure they know when they will reach SPA.

Commenting on the figures, Brian Sloan, Chief Executive of Age Scotland, said:
“The fact that many thousands of Scots don’t know their State Pension Age is deeply concerning. Knowing when you’ll start receiving State Pension is absolutely crucial when it comes to planning for the future – and it helps avoid nasty shocks.

“The good news is, it’s really easy to find out when your State Pension Age will be. You can use our online calculator, at www.ageuk.org.uk/state-pension-age, or you could speak to an advisor on Age Scotland’s free and confidential helpline on 0800 12 44 222.

It’s never too early to plan for the future and we strongly urge all Scots, especially those in their 60s, 50s and even 40s, to find out their State Pension Age for peace of mind.”

Age Scotland’s free and confidential phone helpline offers free benefits and state pension age checks along with more money advice including information. Phone 0800 12 44 222 to speak to someone today.”