Jessica O'ConnorOnly 15% of people were aware that pensioners will get more in state pension payments than they paid in in National Insurance (NI), according to the latest YouGov polling.
The study found that 43% of people believed that an average pensioner retiring today will get less from their state pension than they paid in.
Over-65s were twice as likely to think pensioners will get less than they paid in (38%) than to think they will make more (19%).
YouGov also tested another state pension misconception – that your pension contributions are ring-fenced and kept waiting for you.
Fewer than half (47%) recognised that individuals’ state pension contributions get mixed in with all other tax revenue and spent immediately, and instead people are paid out of current tax revenue when they eventually retire.
In addition, half of respondents said that they don’t know what happens (37%), or hold the ring-fencing misconception (16%).
However, over-65s were much more likely to get this question when compared to other groups, at 63%.
