State pension is 'too complex'

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The Independent Online

Young people would save more for their retirement if they knew how much state pension they would get, a survey shows.

Research for the National Association of Pension Funds (NAPF) found half of those aged 18 to 34 would boost their saving if they understood what they would receive from the state.

NAPF said the state pension should be simplified from its current state as one of the most complicated in Europe.

Joanne Segars, NAPF chief executive, said: "The current system is a dog's breakfast and makes it impossible for people to plan."

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