State pension age starts rising to 67 – here’s how much you get and when

State Pension Age Increases to 67 Starting Monday

From Monday, the state pension age for millions of individuals is gradually moving up to 67. The current age remains at 66, but the transition will occur in phases over the next two years. The first group affected will be those born between 6 April and 5 May 1960, who will now need to wait an additional month before qualifying for their pension.

This adjustment aims to align with extended life expectancy, as many younger workers are expected to remain in the workforce beyond their 70s. However, the government is still assessing whether further increases might be necessary. The policy also coincides with a rise in monthly payments, set to increase by 4.8% in line with average wages, as mandated by the triple lock mechanism.

“It is annoying,” said Peter Bradbury of Preston, who will receive his pension at 66 years and eight months. “I thought I’d get it at 65 when I was younger. Now I’ll do some other work and can’t travel as much as I wanted to. It doesn’t change daily expenses much, but the small pleasures I expected are gone.”

At a guitar gathering in Liverpool, younger attendees shared their concerns about future pension age changes. Laura Williams, a 38-year-old school worker from Netherley, predicted she might reach retirement age around 70. “The things you might delay until you have freedom and finances could be impossible by then,” she warned, noting worries about maintaining quality of life.

The move to 67 is anticipated to reduce government spending by approximately £10 billion annually by 2030. To secure a full pension, individuals generally need 35 years of qualifying national insurance contributions. However, gaps in these records—such as periods spent abroad or caring for children—could affect eligibility for some.

Charities argue the pension age rise will affect regions with shorter life expectancy forecasts more severely, particularly those with lower incomes. For example, men in Wokingham, Berkshire, are projected to live in good health until nearly 70, while men in Blackpool and women in Barnsley have life expectancy forecasts of around 52 and 53 years, respectively.

“The most vulnerable groups are often those least able to adapt, like people already unemployed or with limited health,” explained Laurence O’Brien, a senior research economist at the Institute for Fiscal Studies. “There’s a strong argument for pairing future pension age hikes with specific financial assistance for these groups.”

Elaine Smith of the Centre for Ageing Better highlighted that the rationale for raising the pension age stems from increasing longevity. “Yet life expectancy nationally has declined since the pandemic,” she noted, emphasizing the need for balanced policy support. The Department for Work and Pensions added: “We’re committed to supporting people financially at any stage of life, including through universal credit and other means-tested benefits.”

Earlier pension age changes sparked significant public backlash, especially the 2010s reforms that fueled the Waspi campaign. Women claimed they weren’t adequately informed about the shifts, leading to reliance on private savings for some. Studies also linked the policy to reduced life satisfaction and a 10-point rise in employment rates for affected age groups, as workers extended their careers.

The state pension age will eventually reach 68 by 2044–46, though a review is ongoing to determine if those dates should be adjusted. While the policy addresses longer lifespans, critics stress the importance of ensuring support for those most impacted by the changes.