Changes to State Pension age
Currently, the State Pension age is 65 for men born before 6 April
1959. For women born on or before 5 April 1950, State Pension age is 60.
The State Pension age for women born on or after 6 April 1950 will
increase gradually to 65 between 2010 and 2020.
From 6 April 2020 the State Pension age will be 65 for both men and
women.
Changes from 2024
Between 2024 and 2046 the State Pension age will increase for both
men and women. This increase will be gradual, happening over two years
every decade. The changes will mean that:
State Pension age for men and women will increase from
- 65 to 66
between April 2024 and April 2026
- 66 to 67
between April 2034 and April 2036
- 67 to 68
between April 2044 and April 2046
The age you can claim your State Pension will be determined by when
you were born.
You can find out exactly when you will be able to claim your State
Pension by using the State Pension age calculator on The
Pension Service website.
Choices
When you reach State Pension age, you can still work if you want to.
You can:
- stop working and get your State Pension
- carry on working and get your State Pension as well
- carry on working and put off claiming your State Pension
If you put off claiming your State Pension, you may get extra State
Pension when you do claim it.
If you go on working after State Pension age, you don't have to carry
on paying National Insurance contributions.
You can now also choose to put off claiming your State Pension for as long
as you want. When you do claim you can choose to get either extra State
Pension for the rest of your life, or receive a one-off, taxable
lump-sum payment (which will be equivalent to the State Pension you put
off claiming plus interest) as well as your regular weekly State
Pension.
More on pensions on Direct Gov web site-
|
Money
Channel - Pension bits
