Almost 50% of adults do not know how changes to the state pension will affect them according to a poll from the Department for Work and Pensions.
Plan Ahead
44% of the just over 2,200 people surveyed had no idea what the reforms would mean for their future and how it affected their pension, with only 22% stating that they knew what the reforms meant.
Encouragingly, 60% of those surveyed knew they could take action to increase their state pension but just under 40% admitted they intentionally did not think about their pension or plan ahead.
Tackle Injustice
The new state pension comes into effect from April 2016 with the aim of making it easier to plan ahead and to tackle the current issues in the pension system. Over 650,000 women are set to benefit by the new system that will eradicate the injustices of the past with pensioners receiving a minimum of £150 a week if they have 35 years of full-rate national insurance contributions.
Contact Us
If you wish to discuss the pension reforms or require legal advice with your pension, or any other matter regarding the elderly, Contact Raeside and Chisholm for further specialist and personal legal advice.