The state pension age is set to increase starting next year. Wondering how old you’ll be when you can start claiming it? Currently, the state pension age for both men and women is 66, but it is scheduled to rise to 67 between 2026 and 2028. If you were born between April 6, 1960, and May 5, 1960, you won’t be eligible to claim your state pension until you reach 66 years and one month. This age will incrementally rise until it reaches 67.
Individuals born from April 1977 onwards are expected to witness their state pension age climb to 68. Despite calls to accelerate this change, a decision has been postponed. This adjustment follows a recent review of pension savings, expressing concerns about the heightened risk of retirement poverty for current workers.
To address this issue, Work and Pensions Secretary Liz Kendall will revive the Pensions Commission, last convened in 2006, to explore strategies promoting increased retirement savings among workers.
The timetable detailing your birth date and the age at which you can claim your state pension was released alongside the Pensions Act 2014. You can verify your state pension age on GOV.UK by inputting your birth date. Remember, the state pension age signifies the earliest point at which you can commence receiving the state pension and is distinct from any workplace or private pension schemes you may hold. Currently, the earliest age to access private pensions is 55, but this will rise to 57 starting April 2028.
Presently, new state pension claimants can receive £221.20 per week if eligible for the full amount, necessitating at least 35 qualifying years on their National Insurance record. The state pension escalates annually in alignment with the triple lock pledge, remaining separate from any other pension schemes.
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