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A warning has been issued to anyone who is within 10 years of retirement age. Cuan Tait, Chartered Financial Planner at Raymond James Barbican, has issued a warning to anyone who is "thinking about retirement". If that's you, you should make sure you're well prepared, Tait said. He says: “Don’t rely on the state pension to get you through, £230 a week isn’t much and it barely covers the basics. “If you’re within 10 years of retiring, start sorting it now. Check your forecast, fill the NI gaps, add what you can to your workplace pension." READ MORE Thousands of Blue Badge holders issued update over free bus travel He told the Express: “If you can afford to delay taking your state pension, it goes up about 6% for each year you wait, but only do that if you’ve got other income to live on. “The rule’s still the same really, hope for the best, plan for the worst, and don’t leave it too late to act.” Former Conservative Party pensions minister Ros Altman said: “Because so much public money is spent on pensions, and many commentators believe money should be redistributed away from the old to the young, several radical ideas have been proposed. “The Chancellor Rachel Reeves should aim to change as little as possible in the near-term and avoid adding new complexities, while ideally encouraging more pension contributions to benefit British growth and investment." Baroness Altman said: “Pensions could help revive the British economy, but damaging policy changes could also undermine the whole concept of pension saving and destroy confidence for the future, leaving millions poorer in later life.” Altman became well known in 2002 for leading the "pensionstheft" campaign on behalf of 150,000 workers and their families whose company pensions disappeared when their employers' final salary scheme failed. She was appointed to the House of Lords following the 2015 general election as a Conservative.
