Birth month and pensions

Fri 27 Mar 2015

Those born earlier in the academic year have higher pensions

Research from Equiniti Pension Solutions, one of the UK’s largest pension administrators, has revealed that people born in the first half of the academic year receive higher pensions than those born in the second half.

Analysis of over 800,000 pensioner payments by month of birth, found that those born in September through to February receive on average £132 more per year than those born in March through to August. The average monthly payment for those born in September – February is £699 and for those born in March - August £688.

The highest average monthly payment is in February at £710 with the lowest in May at £680.

In 2011 The Institute of Fiscal Studies reported that children born in August are more likely to have lower confidence in academic ability and to report being unhappy at school. The results also show that children born in the last month of the academic year are also less likely to attend top universities.

Ric Williams, Managing Director at Equiniti Pension Solutions says, “It is fairly well known that children who are older when they start school can perform better academically. Our analysis shows that this can impact on their whole life through to retirement.”