More than half (56 per cent) of adults in the UK think that the state pension is not generous enough, research from Canada Life has revealed.

The research, which was conducted on behalf of Canada Life by Opinium and surveyed 2,000 UK adults, found that 22 per cent of respondents believed the state pension to be “just right” and a further 4 per cent thought it to be “too generous”.

Additionally, the research discovered a divide in opinions concerning the state pension between generations, as the majority (76 per cent) of over-55s felt that it was not generous enough, compared to a third of 18–34-year-olds and half of 35–54-year-olds.

Canada Life’s research also asked respondents their opinion on three common suggestions to make the state pension 'fairer'.

The most popular option amongst those surveyed was found to be allowing people to claim the state pension earlier, favoured by 46 per cent of respondents, even if it meant accepting a reduced rate.

Using life expectancy to calculate the state pension income was the least popular option, with 61 per cent of respondents voicing a negative opinion of the method.

Means testing the state pension was also an unpopular option for respondents, with 27 per cent voicing support for the idea.

Canada Life technical director, Andrew Tully, commented: “The state pension is clearly a hot topic which can elicit a range of strongly held views and opinions.

“Understandably people will feel more protective and dependent on this retirement income as they get closer to being able to claim it, however the lack of confidence in the generosity of the state pension amongst the over-55’s is striking.

“Opinion, like the generations, appears to be divided on how to make the state pension fairer.

“While allowing early access to the state pension appears to have the greatest levels of support, it seems that the British public are certainly much clearer on what they do not support than what they’re backing.”

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