State pension age starts rising to 67 – here’s how much you get and when
State Pension Age Begins Rising to 67 – Here’s How Much You Get and When
The state pension age for millions is increasing to 67 starting Monday, alongside a rise in monthly payments. Currently set at 66, the age will gradually climb over the next two years until it reaches 67. The first group to experience this change includes individuals born between 6 April and 5 May 1960, who will now wait an additional month before qualifying.
This adjustment aims to account for extended lifespans, as many younger workers now expect to remain in employment into their 70s. The government continues evaluating potential further increases. Peter Bradbury, from Preston, will receive his pension at 66 years and eight months. “It’s frustrating,” he shared on BBC Radio 4’s Money Box, noting he had assumed he’d retire at 65. “I’ll have to take on extra work and cut back on travel plans.” He added that while daily expenses remain stable, “the small joys you expect to enjoy are now out of reach.”
At a local guitar session in Liverpool, attendees expressed concerns about future pension age changes. Laura Williams, 38, a school worker from Netherley, predicted she would be 70 when she retires. “You delay things you want to do until you have the freedom and money,” she said. “But by then, your body might not be up to it.”
Financial Impact and Policy Details
The state pension will rise by 4.8% in line with average wages, following the triple lock policy. This ensures payments keep pace with inflation, earnings, or a fixed rate. However, gaps in national insurance records—such as periods spent abroad or caring for children—could affect some individuals’ entitlements.
According to official data, men in Wokingham, Berkshire, are expected to live in good health until nearly 70, while women may reach 71. In contrast, men in Blackpool and women in Barnsley have life expectancies of around 52 and 53 years, respectively. Laurence O’Brien, a senior research economist at the Institute for Fiscal Studies, noted: “Those least able to adapt—like people already out of work or with health challenges—face the greatest strain from these changes.”
The shift to 67 is projected to save the Treasury £10bn annually by 2030. Future increases to 68 are planned for 2044–46, though a review will assess possible adjustments. Elaine Smith, from the Centre for Ageing Better, emphasized that the rationale for raising the pension age is tied to longer lifespans. “Yet life expectancy has actually dropped since the pandemic,” she pointed out.
A Department for Work and Pensions spokesperson stated: “We’re committed to offering financial support for people at any age who need it. Those not yet eligible can access universal credit and other means-tested benefits.” Listeners can tune in to more discussions on Money Box at 12:00 BST on Radio 4 or later on BBC Sounds.