State pension age set to rise next year

THE state pension age, the age at which you can begin claiming the Department for Work and Pensions (DWP) pension, is set to rise from next year, affecting Brits born in certain years. Currently, both men and women can start claiming their state pension at 66.

- By DAVID PRINCE

However, starting from next year, this will gradually increase, reaching 67 years old from April onwards. The transition process is anticipated to be completed for everyone by March 2028.

This planned change to the official retirement age has been legislated since 2014, with a further increase from 67 to 68 scheduled to take place between 2044 and 2046.

The Pensions Act 2014 not only brought forward the planned increase by eight years but also altered the way it would be implemented. Instead of introducing the increase on a specific date, the legislation introduced a gradual increase.