Major changes to when people qualify for their state pension are on the way, impacting millions of Brits. The state pension age is currently 66 but this is soon set to change.
It means many people will have to wait longer to claim their pension than they would under the current system. The Government will be gradually raising the pension age from May 2026 to 67.
The changes will affect those born in or after April 1960 – that is people who will be turning 65 this year. The increase to the state pension age is a reflection of changes in society and the ageing population. It will mean millions having to work longer before they can retire over the coming years.
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And over the next few years, those turning 66 will no longer be eligible to claim their state pension. They will have to wait another 12 months. Those currently in their 50s and early 60s will have to prepare for the change.
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.”