Over half of those yet to access their state pension either thought that everyone was automatically entitled to the full state pension amount or did not know who was entitled, according to research by Royal London.
Almost two fifths of people (37 per cent) thought that men and women were entitled to the state pension at different ages, whereas the age at which men and women can claim their state pension was equalised in November 2018, almost five years ago.
Royal London said it is 75 years since the state pension was launched but few people know important details about it.
The survey, which asked 4,000 UK adults, also showed that fewer than half of those not yet receiving their state pension (46 per cent) knew that men and women would receive the same amount of state pension if they had made equal national insurance contributions.
A similar number of people (45 per cent) did not know if married couples and individuals got the same or a different amount of state pension.
The rules state that someone doesn’t receive less (or more) purely because they are married or in a civil partnership.
Sarah Pennells, consumer finance specialist at Royal London, said: “The state pension is the foundation of most people’s income in retirement, but for one in five of those who’ve retired, it’s their sole form of income.
“Living on £886 a month isn’t easy, especially currently during a cost of living crisis, and around a third (32 per cent) of those we surveyed who are currently receiving the state pension told us that they’re struggling and have to supplement it with other income or savings.
“With the cost of living challenges unlikely to ease any time soon, it is concerning that some people are heading to a retirement where they won’t have enough income for a good standard of living.”
Meanwhile, the research also found that almost a third of people (32 per cent) thought they got their state pension automatically and did not need to apply for it.
There was also confusion about how much the state pension pays.
The average figure people thought the state pension paid was £534 per month, which is around £350 less than the current full monthly amount of £886 under the new state pension rules.
Despite one in 10 people not yet retired saying they would live off the state pension as their main form of income in retirement, 52 per of those who have not accessed their state pension have never checked how much they are likely to receive.
Additionally, 45 per cent have never checked their state pension age and 71 per cent of adults have never asked for a copy of their national insurance record.
Pennells said: “I’d encourage anyone who has been putting off thinking about their retirement to make a start by getting a copy of their state pension forecast.
“Once they know that, they can work out how much income they’d need in retirement to afford the life they’d like and can begin to plan what they need to do with their finances to start to bridge that gap. There are plenty of free online tools and resources to help you.”
