State Pension warning as savers face £210k blow – depends on where you live | Personal Finance | Finance

Your state pension could be impacted depending on where you live, new research has found. This could mean the difference of hundreds of thousands of pounds in pension payouts.

An analysis by The Telegraph has found that pensioners in well-off areas could get around £210,000 more in state pension in comparison to more deprived areas. The research found that the divide is driven by differences in life expectancy between the poorest and richest parts of the country.

More pension payments are paid out to rich people who live longer and therefore receive more payments.

The highest life expectancy is in Hart, Hampshire at 85-years-old. Here, the average retiree draws a state pension at the age of 66 and receives £375,610.

But this isn’t the only area with a high life expectancy. Other areas include Kensington and Chelsea, Horsham, South Cambridge and South Oxfordshire.

In these areas, pensioners accumulate £347,978 in state pension over their lifetime, reports Metro.

However, other pensioners in less wealthy areas have a lower life expectancy. Blackpool has the lowest life expectancy at 76-years-old.

In Blackpool, pensioners receive a state pension at the age of 66 for just 10 years. This means they rack up £165,720 in payouts over their lifetime.

But Blackpool isn’t the only area where pensioners receive less money, other areas with a low life expectancy include Hull, Manchester, Liverpool and South Wales.

This means between Hart and Blackpool, there is a £209,890 gap between the two areas.

Director of Age UK Caroline Abrahams warned: “It’s clear from these statistics that raising the state pension age will particularly penalise those on lower incomes, who are more likely to live in deprived areas.”