Belfast Telegraph

New survey highlights our pension 'blind spots'

By Vicky Shaw

Many people have "blind spots" about the impact of life events on their pension, a survey has found.

More than half (57%) of people surveyed for the Money and Pensions Service were unaware that they could access their pension early due to severe ill health, and that they could top up their pension while on parental leave.

Women were less likely to know they can keep paying into their pension while on parental leave (61%) than men (51%), the UK-wide survey of more than 2,000 people who are not retired found.

If someone cannot work due to illness, they may be able to take their pension benefits early, even before the age of 55.

Schemes have their own definition of ill-health, but generally people may be considered for an ill-health pension if they can no longer do their job due to poor physical or mental health.

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Belfast Telegraph