30 April 2012

Your State Pension Age

The age when you are entitled to receive any State Pension is increasing. There have been various legislative changes in recent years, and some announcements which are not yet law. Here's a quick summary.

For women, State Pension Age is rising from 60 to 65 between 2016 and 2018. It then rises for everyone to 66 between 2018 and 2020. That was in the Pensions Act 2011.

Current legislation is for an increase to 67 between 2034 and 2036, and to 68 by 2046. But in November 2011 it was announced that the increase to 67 is being brought forward to be between 2026 and 2028.

More information - and a pension age calculator - at
http://www.direct.gov.uk/en/Nl1/Newsroom/SpendingReview/DG_192159

... and it's always worth remembering that you can defer taking your State Pension in order to increase it a little, and also that State Pension Age has nothing to do with when you take other pensions (which could be before or after that age), nor with when you actually stop work.

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