HMRC Urges Millions to Check State Pension Forecasts

HM Revenue and Customs is urging millions of adults to review their state pension forecasts in conjunction with Pension Awareness Week, held from September 15 to 18. New research from the agency reveals that approximately seven million people, or 12.5% of adults, have never checked their forecasts, with the 45 to 54 age group being the least likely to do so.

Survey data indicates that many adults avoid checking their forecasts because they believe retirement is too distant, worry about lost pension pots from previous employers, or have concerns regarding career breaks. To address these gaps, the agency is promoting the HMRC app and the Tax Confident website, which allow eligible users to view employment history, check tax codes, and top up National Insurance contributions.

Chief Customer Officer Myrtle Lloyd encouraged citizens to use the digital tools to better prepare for the future, stating that checking a forecast on the app takes only a few minutes but can make a real difference in how prepared individuals feel.