The state pension age is set to go up to 68 which is ten years earlier than the originally planned 2044-46 time scale. The current pension ages being 65 for men with women soon to be raised to that age as well. Ages are then set to go up to 66, between 2018 and 2020, and 67, between 2026 and 2028 before reaching the 68 age bracket in 2030. With life expectancy lengthening future rises should not be ruled out.
With this change in the state pension age it would seem that roughly 8 to 10 million people could be affected with roughly 800k people reaching the current state pension age each year rising as population grows.
So why not plan ahead, the earlier you do and the younger you are the better situation you will find yourself in. For pension advice or any other financial matter and a FREE initial consultation simply contact us via the opposite contact form and an advisor will be in touch shortly.
Information sourced from the BBC