Half (50 per cent) of UK adults don't know how much they'll receive in their state pension, while nearly a third (32 per cent) are unaware of the age they'll receive it, analysis from Standard Life has revealed.

The research, which was part of the group's Retirement Voice report, found that there is a widespread lack of awareness around the state pension, even amongst those nearing retirement, as 31 per cent of those aged 55-64 were unaware of how much they’ll receive from their state pension.

In addition to this, 12 per cent of 55 to 64-year-olds admitted that they don’t know the age at which they’ll qualify for the state pension age - their state pension age.

The research also highlighted broader misunderstandings surrounding the state pension, as more than half (51 per cent) of adults said they had no idea of the current value of state pension payments, while 52 per cent were unaware of how to calculate their state pension entitlement.

Furthermore, over a third (34 per cent) revealed they didn’t know that their National Insurance contributions determine the level of entitlement and the amount of money they’ll receive from the state in retirement.

Commenting on the findings, Standard Life managing director for retail direct, Dean Butler, said: “With the state pension set to rise to £11,973 a year for the 2025-26 tax year, it remains a crucial part of many people’s retirement income. But despite its importance, there’s still a lot of confusion around how it works and how much people might get.

“Knowing when you’ll start receiving your state pension and how much you’re likely to get is an important part of planning for retirement. It helps you work out how much extra you need to save, when you could afford to retire, and what your overall financial picture will look like.

"Understanding how your National Insurance (NI) contributions impact your retirement is also vital, so you’re not caught out when the time comes.

“With the personal allowance frozen at £12,570 until 2028, there’s a good chance that people will pay tax on the state pension alone from 2026 or 2027. The government might change the rules to avoid this, but it’s good to be aware of tax when planning for retirement.”

---