Ms O’Connor also issued a warning regarding pension contributions amid the changes.
She said: “For workers, this serves to underscore the need to contribute as much as possible to a workplace or personal pension while you are in employment, to reduce your individual dependence on the State Pension when you retire.”
Research for interactive investor’s Great British Retirement Survey 2020, published by interactive investor last year, found rises to the state pension age – which have most dramatically affected women in their early 60s – had caused “significant hardship” for some.
The survey also found it forced many to work beyond the age at which they had planned to retire.
More than one in three (35 percent) women responding to the survey said that rises to the state pension age had “derailed” their retirement plans, rising to 64 percent of those aged 60 to 65.
Published at Sun, 28 Feb 2021 12:43:00 +0000