Everyone born after a certain date has been told they may have to wait longer before they can claim their state pension. It comes amid huge planned changes to the state pension from next year.
The Government will be gradually raising the state pension age from 66, which it currently stands at, over the next couple of years. And it will have a big impact on people aged in their early 60s and below.
The pension age is set to gradually start increasing from May 2026 – just over a year’s time. It will gradually rise to 67, meaning those affected will have to wait a year longer than they would have under the current system.
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The changes will affect those born in or after April 1960 – that is people who will be turning 65 this year. The shake-up will have a big impact on people currently in their 50s and early 60s as most of them will likely have to wait until they are 67 to get their state pension.
It’s part of Government changes reflecting the ageing population. The pension age could then increase again to 68 between 2044 and 2046.
The charity Age UK explained: “The state pension age is currently 66 years old for both men and women but will start gradually increasing again from May 6, 2026. State pension age is gradually increasing for men and women, and will gradually rise to 67 for those born on or after April 1960.
“State Pension age is going to be kept under review, which means that it could change again in the future. This depends on different factors, such as changes in life expectancy.