The state retirement age: Common misconceptions about retirement and the state pension Available to Purchase

The Age Partnership Group (APG) and the Department for Work and Pensions (DWP) recently commissioned a number of studies under the general heading: ‘Extending Working Life’, as part of a national guidance campaign. The campaign aims to raise employers' awareness of flexible employment and retirement opportunities prior to the implementation of age legislation towards the end of 2006. In general this legislation will ensure that employers will no longer be able to recruit, train, promote or retire people on the basis of their age. As part of the DWP framework, the Institute of Gerontology at King's College London was asked to examine recurrent misconceptions about pension ages and retirement ages. These take the form of misunderstandings, confusions, and in some instances even fictions that are perpetrated via the media and sometimes by those organisations that hope to clarify matters around pensions. This work was aimed at a professional audience. Therefore the focus of this article is predominantly on practical rather than theoretical issues. However, the policy and practice implications that arise, when the most basic topics associated with pensions and retirement are not properly understood, are profound. These can affect people on the verge of pension age, as well as those who are attempting to plan for retirement and also their employers. Without a clear understanding of the facts about entitlement to a state pension, for instance, individuals and their employers may not pursue the opportunities open to them. In this article, the most salient of these misconceptions are examined and redressed. This was undertaken through an extensive literature review, which examined not only a wide range of media reports (from the press, internet and radio) but also encompassed government documents and academic papers. The Pensions Policy Institute (PPI) in particular gave guidance and advice.