Is the Glass Half-Empty, Half-Full … or Shattered?

John Griffin

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The glass half-full/half-empty idiom came to mind last week after The Pensions Advisory Service published its Women and Pensions report; the report had some surprising revelations:

74% of the 1,000 women surveyed did not know how much they would get from the State in retirement;
36% did not know when their State pension would be paid; and
57% did not know if there was a shortfall in their National Insurance record.

These figures are nothing short of astonishing.  I’m amazed that, given the seemingly never-ending adjustments/simplification/upheaval/tweaking of pensions, that:

26% DO know what they’ll get from the State;
64% (really?) DO know when it will be paid; and
as many as 43% DO know enough about their NI record to know if there is a shortfall.

Pension issues can be more complicated for women, as they are more likely to have a career break, or work part-time, and so have an incomplete State pension, so these figures are doubly-encouraging.

So maybe there is light at the end of the dark pensions tunnel, and it’s not just the remnants of my cheery, New Year optimism.

As for the “glass” question, it’s not nearly as important as whose round it is.

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