Find A Professional
Overview of the State Pension Age
The state pension age is the earliest age you can start receiving the state pension in the UK, and it is determined by your date of birth and gender. Over the years, this age has been subject to change, reflecting trends in life expectancy and government policies. As of now, state pension age is equalizing for men and women and is set to undergo further changes by 2026.
What is Changing in 2026?
The UK government has planned incremental increases in the state pension age as part of its long-term strategy to ensure that the pension system remains sustainable. By 2026, the state pension age will undergo noticeable adjustments, eventually leading to an increase to 67 for both men and women. This is part of a phased plan that started years ago with gradual increases, reflecting the rising longevity of the population.
Impact on Individuals
The increase in state pension age to 67 means that individuals will have to wait longer before they can start receiving their state pension benefits. For those born after April 5, 1960, the exact age will be 66 years and gradually increasing to 67 years. This change may impact retirement planning, as individuals will need to consider other sources of income or pensions to cover the gap if they wish to retire earlier.
Reasons for the Changes
The primary reason for increasing the state pension age is the rising life expectancy, which places a financial burden on the pension system. With people living longer, the time they spend in retirement has increased, necessitating reforms. The adjustments are designed to ensure the state pension remains affordable for the government while sustaining retirees' incomes.
Future Projections and Considerations
Looking beyond 2026, the government has indicated that further increases to the state pension age may be necessary to keep pace with life expectancy trends. Current legislation suggests that the pension age could rise to 68 by the late 2030s. Therefore, it is crucial for individuals to stay informed about these changes to adequately plan their financial futures.
Advice for Current and Future Pensioners
Those nearing retirement age should review their financial plans to accommodate these changes. It may be beneficial to seek guidance from financial advisors to explore alternative retirement income sources such as personal and occupational pensions. By understanding these changes and planning accordingly, individuals can better prepare for their financial needs during retirement.
What is the State Pension Age?
The state pension age is the age when you can start getting the state pension money in the UK. This age can be different based on when you were born. Over time, this age has changed. By 2026, the pension age for men and women will be the same.
What Will Change in 2026?
The UK government plans to slowly increase the state pension age. By 2026, everyone will need to be 67 years old to get the state pension. This change is happening because people are living longer.
How Does This Affect You?
If the state pension age goes up to 67, people will wait longer to get their pension. If you were born after April 5, 1960, you will have to wait until you are between 66 and 67 years old. You might need other money sources if you want to stop working earlier.
Why Is the Age Changing?
The age is changing because people are living longer. This costs more money for the government. By increasing the age, the government can save money and still help retired people.
What Will Happen in the Future?
After 2026, the pension age might keep going up. It might be 68 years by late 2030s. It's important to know these changes so you can plan how to look after your money when you retire.
What Should You Do?
If you are getting close to retirement age, check your money plans. It might help to talk to a money expert about other ways to get money when you retire, like personal pensions. Planning now can help you later.
Frequently Asked Questions
What is the state pension age in the UK in 2026?
The state pension age in the UK in 2026 is scheduled to be 67 for both men and women.
When will the state pension age increase to 67?
The state pension age is gradually increasing to 67 and will reach this age by 2028.
Are there any changes to the state pension age in 2026?
Yes, by 2026, the state pension age for both men and women will continue towards being 67.
Why is the state pension age changing in the UK?
The state pension age is changing due to increased life expectancy and to ensure the sustainability of the pension system.
Who will be affected by the state pension age changes in 2026?
Individuals born after April 1960 will be gradually transitioned to a state pension age of 67.
How can I find out my specific state pension age?
You can use the state pension age calculator on the UK government's website to find your specific state pension age.
Will anyone be unaffected by the state pension age changes?
Individuals who had already reached the state pension age before the changes will not be affected.
Are there further changes expected after 2026?
Yes, there are plans to review and potentially increase the state pension age to 68 by 2046.
What age group will first see the state pension age at 67?
People born between April 1960 and March 1961 will be among the first to see the state pension age of 67.
Will the state pension amount change with the age increase?
The increase in state pension age does not directly affect the amount paid, which is subject to separate policies.
Are men and women's pension ages equalized?
Yes, since 2018, the state pension age for men and women has been equalized.
How will the changes in pension age affect retirement planning?
Individuals may need to adjust their retirement plans to accommodate the later state pension age.
Has the state pension age changed before?
Yes, the state pension age has increased gradually over the years to respond to demographic and financial pressures.
How often does the UK government review the state pension age?
The UK government reviews the state pension age every few years to ensure its sustainability.
Can you retire earlier than the state pension age?
You can choose to retire earlier, but you will not receive your state pension until you reach the official pension age.
What is the new planned state pension age after 2028?
The government has intentions to increase the state pension age to 68 beyond 2037.
Is there any assistance for those who cannot work up to the new state pension age?
There are benefits and allowances available for those unable to work due to health or other reasons before reaching pension age.
Where can I get more information about my pension?
You can visit the UK government's website or contact the Pensions Advisory Service for more detailed information.
What demographic factors influence changes to the state pension age?
Factors include aging population, increased life expectancy, and the economic sustainability of the pension system.
Will the pension age changes automatically apply to me if I move abroad?
Yes, the state pension age changes will apply regardless of your residence location, but check specific rules for receiving pensions abroad.
How old do you need to be to get the state pension in the UK in 2026?
In 2026, people in the UK can get their state pension when they turn 67 years old. This is the same for both men and women.
When will the age to get state pension go up to 67?
The age when you can get your state pension is going up to 67. This will happen by the year 2028.
Will the age to get a state pension change in 2026?
Yes, by 2026, the age to get the state pension for both men and women will be 67.
Why is the age to get a state pension in the UK changing?
The age when people can get their state pension is changing. This is because people are living longer and to make sure the pension system can keep going.
Who will be affected by the state pension age changes in 2026?
In 2026, the age to get the state pension will change. This means some people will have to wait longer to get their money.
It will affect people who are still working and are planning for their pension. You need to be ready for these changes.
If you want help, you can talk to a family member, a friend, or a advisor. You can also use tools like calendars to plan for these changes.
People born after April 1960 will start getting their state pension when they are 67 years old.
How do I know when I will get my state pension?
To find out when you will get your state pension (money when you stop working), you can:
- Use a computer or tablet to visit the government website. There you can find a "State Pension Age" calculator.
- Type in your date of birth and it will tell you when you can get your pension.
- Ask someone you trust to help you if you find it hard to use the internet.
- You can also call a pensions helpline for more information.
You can use a special tool on the UK government's website to find out when you can get your state pension.
Will the state pension age changes affect everyone?
Some people will not be affected by the changes in the state pension age. It's good to check and see if the changes affect you or not.
You can ask someone you trust to help you understand the changes. You might also find it helpful to use tools that turn text into speech or apps that explain things in simple words.
If you were already getting your state pension before the changes, nothing will change for you.
Will there be more changes after 2026?
It's like asking if more things will be different after 2026. We can't be sure, but it's possible.
To help understand, try using:
- A calendar to see what year it is now.
- Ask someone you trust to explain more.
The government is thinking about changing the age when people can get their state pension. They might make it 68 years old in the year 2046.
Who will get their state pension at age 67 first?
If you were born between April 1960 and March 1961, you will be one of the first people to get your state pension at age 67.
Will the money you get from the state pension change when you get older?
The age when you can get a state pension is going up. But this doesn’t change how much money you get. This depends on other rules.
Do men and women get their pensions at the same age?
Yes, since 2018, men and women can get their state pension at the same age.
How will changes to the age you can get your pension change how you plan for stopping work?
People might need to change their plans for stopping work because the age to get a state pension is now older.
Did the state pension age ever change before?
Yes, the age when you can get the state pension has gone up slowly over time. This is because there are reasons like more people living longer and money needs.
How often does the UK government check the age you get your state pension?
The UK government looks at the age you get your state pension every so often. This is to check if it needs to change.
To make reading easier, you can:
- Use a finger or ruler to guide your reading.
- Read out loud to hear the words.
- Ask a friend or helper for support if you don’t understand something.
The UK government checks how old you need to be to get your state pension. They do this every few years to make sure it works well for everyone.
Can you stop working before you reach the age for the state pension?
Yes, you can stop working before you reach the age for the state pension. Here are some ideas to help:
- Save Money: Put aside some money regularly to use when you stop working.
- Talk to an Expert: A financial advisor can help you plan for the future.
- Check Your Pensions: See if you have other pensions from work to help you.
- Look at Benefits: Some people can get help from the government.
These steps can help you decide if you can stop working early.
You can stop working and retire early if you want to. But, you won’t get your state pension money until you are the right age for it.
What will be the new age for getting a state pension after 2028?
The government wants to make the pension age 68 after the year 2037.
Is there help for people who cannot work until they reach the new pension age?
Some people might find it hard to work until the new pension age.
If you cannot work until then, there are some ways to get help:
- Disability Benefits: If you are sick or have a disability, you could get money to help you.
- Job Center: They can find programs to help you train for new jobs or find work that's right for you.
- Talk to Someone: You can speak to an advisor who can help you find the right support.
It’s important to know you’re not alone. There are people and places that can help you get the support you need.
You can get help if you can't work because you're sick or for other reasons before you retire.
Where can I learn more about my pension?
You can find out more about your pension in these ways:
- Ask someone at your job. They might know about your pension.
- Look online. Use a computer or a tablet to search for "pension help."
- Visit your bank. They often help people with money questions.
- Call a pension helpline. They are people who can answer your questions.
- Talk to a family member or a friend. They might know who can help.
These ways can help you find more information.
You can go to the UK government's website. You can also call the Pensions Advisory Service for more information.
What things decide when people get their state pension?
Here are some things that can change when people get their state pension:
- How many people live in the country
- How old people are
- How long people are living
- The number of people working
Helpful tools to understand better:
- Ask someone to read with you
- Use pictures or charts
There are a few reasons:
- More people are getting older.
- People are living longer.
- We need to make sure there's enough money for everyone when they stop working.
Supportive tools that might help:
- Using pictures or charts to show information.
- Simplifying information with short, clear sentences or bullet points.
- Listening to the text read out loud with a computer program.
If I move to another country, will the pension age changes affect me?
Yes, the age when you get your state pension is changing. This is true no matter where you live. But, make sure to find out the rules for getting your pension if you are living in another country. You could ask someone at a Citizen’s Advice bureau, or use an online search engine like Google to find more help.
Useful Links
- Ergsy carfully checks the information in the videos we provide here.
- Videos shown by Youtube after a video has completed, have NOT been reviewed by ERGSY.
- To view, click the arrow in centre of video.
- Most of the videos you find here will have subtitles and/or closed captions available.
- You may need to turn these on, and choose your preferred language.
- Go to the video you'd like to watch.
- If closed captions (CC) are available, settings will be visible on the bottom right of the video player.
- To turn on Captions, click settings .
- To turn off Captions, click settings again.