Current State Pension age

Posted on 2nd November 2023 by Streets


Image to represent Current State Pension age

The second review of the State Pension age has been published by the Department for Work and Pensions. The State Pension age is currently 66. The review has stated that a further increase in the State Pension age to 67 for those born on or after April 1960 will take place as planned between 2026 and 2028. Following this announcement, the government has confirmed the State Pension age will rise to 67 by the end of 2028.

The Pensions Act 2014 requires the Secretary of State for Work and Pensions to regularly review the State Pension age. There had also been plans for a further gradual rise in the State Pension age to 68 between 2044 and 2046 for those born on or after April 1977. The government plans to have a further review within two years of the next Parliament to reconsider the rise to age 68.

This will ensure that the government is able to consider the latest information to inform any future decision on the State Pension age. This will include life expectancy and population projections, the economic position and the impact on the labour market. 

The government has said they remain committed to the principle of providing 10 years notice of changes to State Pension age, enabling people to plan effectively for retirement. All options for the rise to the State Pension age from 67 to 68 that meet the 10 years notice period will be in scope at the next review.


No Advice

The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.

Information

The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.


Expert insight and news straight
to your inbox

Related Articles


Self-assessment payments on account

Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments on account are due on 31 January during the tax year and 31 July following the tax year end date. These


Falling inflation – what does it mean for you?

The following notes are reproduced from a Treasury statement issued 21 May 2024. Lower inflation supports people by maintaining the purchasing power of their money. If prices only rise slowly, people can plan their budgets more effectively -


New Brooms

As time passes during the present election campaign, its seems more likely that we may have a change of government from the 5 July. Labour have disclosed a number of tax changes they would introduce. To summarise they are: Private school fees


You might also be interested in...