What is your state pension age?

The state pension can be a key part of your retirement finances, but there’s often confusion about when you’ll get it and how much you’ll receive.

Let’s clear things up and explain exactly when you can expect to receive your state pension, so you’ll know what to plan for.

How much is the state pension?

Currently, the state pension is about £11,973 a year. To qualify for the full amount, you need to have built up 35 qualifying years of paying national insurance contributions, but you can get a reduced amount if you have paid at least 10 years.

You don’t always need to be working to build up qualifying years. If you have taken time out to care for children or others, you may be entitled to a credit. If you are unsure what your position is check the DWP’s State Pension Forecast. It should tell you how much state pension you should get.

When should I get my state pension?

The state pension age for both men and women is 66. However, this is due to gradually increase to 67 between 6 April 2026 and 5 April 2028.

Those born before 6 April 1960 will continue to get their state pension at 66. Those born between 6 April 1960 and 5 April 1961 will have a state pension age somewhere between 66 and 67, and for those born on or after 6 April 1961 their state pension age is 67.

The state pension age will then increase to age 68 between 2044 and 2046. However, there is debate about whether this increase should be brought forward.  

The government has recently kicked off an independent review to work out what the state pension age should be.

Tell me more about this review

This is an independent review led by Dr Suzy Morrissey. It follows on from two previous reviews of the state pension age. The first (led by Sir John Cridland) recommended bringing forward the increase to 68 to between 2037-39. The second review suggested between 2041-43. But neither recommendation was taken forward by government.

If the government wants to bring forward the increase to 68 to the late 2030s, they will need to decide soon; they need to give people ten years’ notice of any change to state pension age.

Could it rise higher than 68?

There’s been talk about raising the state pension age to 70 or even higher as people are living longer, but it’s unlikely the current government will make that decision soon.

How can I retire when I want to?

Endless debates about state pension age can be draining! But the best way to make sure you can retire when you want is to build up your own pension.

Make the most of your workplace pension by joining your employer’s scheme and boosting your contributions to get the highest match possible. Take time to review your pensions regularly, making sure your money is invested in a way that suits your plans for retirement — whether that’s soon or many years away.

If you have several workplace or private pensions, it could be helpful to bring them together in one place. This can make it easier to keep track of your savings and might even lower your fees or give you new investment options.

When will the state pension age increase to age 68?