HMRC issues reminder to check your pension this week
Key Points
- HMRC has urged British people to check their State Pension forecast this week.
- To mark Pensions Awareness Week, HMRC has published a survey that found one in ten people have never checked their State Pension forecast.
- The organisation reminded people to check the HMRC mobile app and its Tax Confident website to get an idea of what to expect in retirement.
HMRC has issued a reminder for people to check their State Pension forecast, noting that one in eight adults have never checked how much they will get in retirement benefit.
The organisation has published research which shows that almost 7 million adults could be missing out on information that could help them to prepare for their retirment.
To mark Pension Awareness Week from 15-18 September, HMRC has published findings from a survey of 5,206 UK consumers, noting that 12.5% have never checked their State Pension forecast.
The data shows that those aged between 45 to 54 years old are the most likely to have never checked this figure, despite this age being a key period for retirement planning.
Respondents cited a number of reasons for not checking their State Pension forecast, chief among which was feeling that retirement was too far away to think about.
Almost one in ten said they did not know how to check their State Pension.
Your State Pension forecast is available and easy to check within the free HMRC mobile app, and HMRC has also launched a Tax Confident website to provide taxpayers with an idea of what they can expect in retirement.
“It’s never too early, or too late, to check your State Pension forecast,” said HMRC chief customer officer Myrtle Lloyd.
“Checking your forecast on the HMRC app takes just a few minutes but can make a real difference to how prepared you feel for the future.”
“Whether retirement is decades away or just around the corner, I’d encourage everyone to check their forecast and see if there’s anything they can do now to boost their entitlement later.”
