One in six people whose state pension age is 66 or 67 either don't know their state pension age or underestimate it, according to new research from the Institute for Fiscal Studies.
Those with lower levels of wealth are particularly likely to be mistaken about when they can claim their pension.
This finding is especially significant as the state pension age is set to rise from 66 to 67 starting next year.
The IFS briefing reveals that among people born after 6 April 1960, fewer than half (42 per cent) know their state pension age correctly within three months.
The same proportion overestimates their state pension age, while a significant minority of 16 per cent either don't know their state pension age or underestimate it.
This equates to approximately 130,000 people who may be caught out by the upcoming changes to pension eligibility.
The research highlights that people with less personal wealth tend to be more reliant on the state pension, making their lack of awareness particularly concerning.
Women, the self-employed and people not in paid work were more likely to not know or underestimate their state pension age.
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"This is especially important as the state pension age rise from 66 to 67 is imminent: it starts in just a year's time," said senior research economist Heidi Karjalainen from the IFS.
Karjalainen warned of the consequences for those caught unaware: "If individuals discover that they have to wait longer than they had thought to claim the state pension, they may regret having retired or not having saved more."
She stressed the importance of clear communications from both the government and private pension providers about increases in the state pension age.
This would help people "avoid costly surprises and plan more effectively for later life," she added.
The IFS findings echo the women's state pension age communications debacle, where thousands of women claimed they were unaware of increases to their pension age.
The Parliamentary and Health Service Ombudsman found the Department for Work and Pensions guilty of maladministration, communicating the increase 28 months too late.
Despite accepting this finding, the DWP has rejected recommendations to compensate affected women.
Work and pensions secretary Liz Kendall pledged the department would "learn all the lessons to ensure this type of maladministration never happens again."
The state pension age for both women and men currently stands at 66 and will increase to 67 starting in 2026.
A further legislated increase to 68 is scheduled for 2044-46, though this could potentially be brought forward.
Last month, campaigners filed a claim for judicial review that could force the government to reconsider its decision not to compensate women affected by previous changes.
The IFS has previously argued for increased working age benefits for people just below state pension age, citing rising poverty levels in this group.
Find Out More...
Those with lower levels of wealth are particularly likely to be mistaken about when they can claim their pension.
This finding is especially significant as the state pension age is set to rise from 66 to 67 starting next year.
The IFS briefing reveals that among people born after 6 April 1960, fewer than half (42 per cent) know their state pension age correctly within three months.
The same proportion overestimates their state pension age, while a significant minority of 16 per cent either don't know their state pension age or underestimate it.
This equates to approximately 130,000 people who may be caught out by the upcoming changes to pension eligibility.
The research highlights that people with less personal wealth tend to be more reliant on the state pension, making their lack of awareness particularly concerning.
Women, the self-employed and people not in paid work were more likely to not know or underestimate their state pension age.
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"This is especially important as the state pension age rise from 66 to 67 is imminent: it starts in just a year's time," said senior research economist Heidi Karjalainen from the IFS.
Karjalainen warned of the consequences for those caught unaware: "If individuals discover that they have to wait longer than they had thought to claim the state pension, they may regret having retired or not having saved more."
She stressed the importance of clear communications from both the government and private pension providers about increases in the state pension age.
This would help people "avoid costly surprises and plan more effectively for later life," she added.
The IFS findings echo the women's state pension age communications debacle, where thousands of women claimed they were unaware of increases to their pension age.
The Parliamentary and Health Service Ombudsman found the Department for Work and Pensions guilty of maladministration, communicating the increase 28 months too late.
Despite accepting this finding, the DWP has rejected recommendations to compensate affected women.
Work and pensions secretary Liz Kendall pledged the department would "learn all the lessons to ensure this type of maladministration never happens again."
The state pension age for both women and men currently stands at 66 and will increase to 67 starting in 2026.
A further legislated increase to 68 is scheduled for 2044-46, though this could potentially be brought forward.
Last month, campaigners filed a claim for judicial review that could force the government to reconsider its decision not to compensate women affected by previous changes.
The IFS has previously argued for increased working age benefits for people just below state pension age, citing rising poverty levels in this group.
Find Out More...