Webb warns even IFAs can't understand state pension

State pension forecasts sent out to people approaching retirement are so complicated even financial advisers do not understand them, pensions minister Steve Webb says.

The DWP says the forecasts "do not give straight advice" and are "hard to understand". It also claims civil servants themselves struggle to understand the complex state pension system.

Webb says civil servants "can't properly calculate what people are likely to receive" in terms of state pension and disability and carer's allowance.

The DWP says the forecasts may suggest to people they will be better off than in reality, the Daily Mail reports.

"Officials tell me that they find it difficult to figure out how much someone approaching retirement will get from the State," says Webb.

"How can we expect the average person to understand it?

"It is clear the pension system has become so complicated even a financial adviser would struggle to calculate what they will expect in retirement."