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- State pension set to rise by 4.8% in April but confidence in the State Pension remains low
- A third (33%) of Brits expect State Pension age to reach at least 70 by 2030
- Only half (51%) think the State Pension will exist for everyone by the time they retire, and less than a third (29%) think the Triple Lock will still be in place
- Half (50%) worry they won’t have enough to fund their full retirement, while 47% feel their retirement finances are mainly outside their control
- Differences in life expectancy mean some areas of the UK would receive far fewer years of State Pension payments than others
The State Pension forms the bedrock to most peoples’ income in retirement, but doubts about its future is one of the biggest uncertainties shaping how the UK is preparing for retirement, according to new research from Standard Life’s 2025 Retirement Voice report1. A third of Brits (33%) expect the State Pension age will reach at least 70 by 2030, and only half (51%) think the State Pension will be available for everyone when they retire, as it is currently.
September’s inflation figure of 3.8% confirms that the State Pension is set to rise by 4.8% under the Triple Lock - to £12,547.60 per year for the 2026–27 tax year - but with the total annual cost of the State Pension likely to increase by around £7 billion to £152.6 billion2, doubts about its long-term sustainability are fuelling public anxiety. According to the data, less than a third (29%) of Brits think the Triple Lock will still be in place when they reach retirement, with Gen X among the most sceptical – just one in five (21%) expect it to remain intact.
Misconceptions around the current State Pension age also exist. While it currently stands at 66, fewer than one in five (18%) correctly identify this, dropping to just 14% of Gen X and 13% of Gen Z. Furthermore, while the State Pension age is currently due to increase to 67 between 2026 and 2028, and again to 68 between 2044 and 2046, a third (36%) believe it is already 67. Worryingly, almost one in ten (8%) think it is still the age of 60, rising to one in five (19%) of Gen Z.
Rising State Pension age and regional inequality
From April 2026, the State Pension age will begin to rise to 67, however this change won’t impact all regions equally, partly due to significant differences in life expectancy across the UK. Standard Life analysis of ONS longevity data reveals that people in some areas will receive State Pension payments for far fewer years than other regions.
Men in Blackpool, for example, can expect approximately 6.1 years of State Pension payments on average, compared to 14.5 years for men in Kensington and Chelsea. Women in Blackpool can expect approximately 11.9 years of payments, compared to 19.5 years for women in Kensington and Chelsea3.
Approximate number of years in receipt of State Pension by UK area, based on ONS longevity figures3:
| UK area | Approximate years in receipt of state pension payments based on State Pension age of 67 – male | Approximate years in receipt of state pension payments based on State Pension age of 67 – female |
|---|---|---|
| Blackpool | 6.1 | 11.9 |
| Glasgow | 6.6 | 11.3 |
| Manchester | 8.2 | 12.6 |
| Liverpool | 8.9 | 12.7 |
| Hart, Hampshire | 16.4 | 18.9 |
| Kensington and Chelsea | 14.5 | 19.5 |
Private pensions are not plugging the pension gap
While confidence in the State Pension is eroding, the data also shows that private pension saving is far from bridging this gap, with just 15% prioritise pensions savings and almost one in five (17%) saying they don’t have a pension.
Furthermore, just over half (53%) of Brits worry that they’re not saving enough now for when they’re older (up from 51% in 2024) and almost half (47%) feel their retirement finances are outside their control. A growing number (50%, up from 46% in 2024) also expect to work beyond State Pension age – potentially reflecting a lack of confidence that the system will support them.
Catherine Foot, Director of the Standard Life Centre for the Future of Retirement, commented: “Standard Life’s Retirement Voice 2025 report shows just how uncertain people feel about their financial futures, with confidence in the future of the State Pension especially low. Many doubt whether it will exist in its current form by the time they retire, even though there is no indication from policymakers that such a change is likely.
“While raising the State Pension age further and faster than currently planned would impact everyone, it’s clear that the impact wouldn’t be felt equally, given the wide variations we see in life expectancy across the country. What’s more, in some parts of the UK, people are more likely to stop working earlier due to health conditions, disabilities or caring responsibilities - meaning they may struggle to reach the age at which the benefit becomes available. These structural inequalities deserve close attention in the current Independent Review of the State Pension Age and future policy debates that follow it.
“The revival of the independent Pensions Commission is an opportunity to take a fresh look at how the whole pensions system can adapt to longer working lives and shifting demographics. Two decades ago, the Commission reshaped retirement saving through auto-enrolment; today, we need similarly bold thinking to ensure the State Pension is considered alongside private pension provision and remains both sustainable and fair. Creating a retirement system that is equitable, adaptable and trusted will take coordinated action across government, employers, the pensions industry and individuals themselves. The good news is that we now have the chance to do that – and rebuild confidence in retirement for the decades ahead.”
- Ends -
Media enquiries
James Merrick
Standard Life
07974 063067
james_merrick@standardlife.com
Notes to editors:
[1] Retirement Voice 2025 | Standard Life
Research conducted by Ipsos on behalf of Standard Life in June 2025. In total 6000 participants took part in the online survey. Participants were aged 18-80 and were a mix of working, unemployed and retired people. Quotas and weights were used to ensure the respondents were representative of the UK general population on age, gender and region.
[2] Guidance and methodology: Benefit expenditure and caseload tables - GOV.UK
[3] Life expectancy for local areas of Great Britain - Office for National Statistics
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About the Standard Life Centre for the Future of Retirement
- Standard Life Centre for the Future of Retirement is a pioneering UK think tank with a bold ambition to help everyone achieve long-term financial security.
- How we work, save, and retire is changing, and it will look different for everyone. That traditional idea of spending decades in full-time employment and then retiring with a comfortable, guaranteed income is no longer going to be a reality for most people.
- Standard Life Centre for the Future of Retirement uses research to provoke fresh debate, drive action and influence change so that people can secure their financial future and enjoy a decent standard of living in their later lives.
- It is led by Catherine Foot, a leading research and policy specialist who was appointed as the Director of the think tank under its previous brand, Phoenix Insights, in June 2021.
- Catherine has over 20 years of experience in the field. From 2015 to 2021, she was Director of Evidence at the Centre for Ageing Better. She has also held senior roles with The King’s Fund and Cancer Research UK.