From next year, changes to the state pension age will impact individuals born in specific date ranges. Currently set at 66 for both genders, the state pension age will incrementally increase to 67 by April 2028. This means that individuals born between April 6, 1960, and May 5, 1960, will have to wait until they reach 66 years and one month to start claiming their state pension. Similarly, those born between September 6, 1960, and October 5, 1960, will need to wait until they turn 66 years and six months.
The transition to the new state pension age of 67 will occur gradually between April 2026 and April 2028. Sir Steve Webb, a pensions expert and former Pensions Minister, clarified this adjustment in response to a reader’s query about the delay in claiming their pension despite turning 66 earlier. He explained that the phasing-in process will result in individuals having non-whole year state pension ages, such as 66 years and four months.
Individuals born after this period will have a state pension age of at least 67. Although there have been discussions about advancing the state pension age to 68, a decision on this matter has been postponed. It is important to note that the state pension age differs from any workplace or private pensions an individual may possess. Currently, the earliest age to access private pensions is 55, but this will increase to 57 from April 2028.
For those currently retiring, the new state pension amount stands at £221.20 per week for those eligible for the full sum. Typically, individuals need 35 qualifying years on their National Insurance record to receive the maximum benefit. Furthermore, the state pension undergoes annual adjustments in accordance with the triple lock promise.
