The majority of people are unaware of two important changes to pensions that come into effect next year.

 From next April the minimum pension age* is set to rise to 55 but a survey just conducted for the insurance company, Aon Consulting, found that three quarters of the more than 4,000 people they surveyed were unaware of it.  Amongst those most likely to be impacted (45 to 54-year-olds) only 31 per cent knew of the imminent change.

The survey also found that over half (54 per cent) of those surveyed were unaware that the state pension age for women begins to rise from next April and will slowly increase to 65 by 2020.  All women born after 6 April 1950 will be affected.**

Helen Dowsey, principal at Aon Consulting, commented: “These findings have clear implications for Britain’s workforce and their employers. It is disappointing, but not entirely surprising, that so few people are aware of changes to the minimum retirement age and the State pension age. Employees should double-check when they are able to retire, no matter what their age.”

*The minimum pension age in the UK is currently 50 and is the earliest age at which someone is allowed to start drawing an occupational pension. 

** For more information on the changes visit: www.thepensionservice.gov.uk