The state pension age has hit its 66 and is set to rise further

The state pension age has hit its 66 and is set to rise further

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After a steady increase in the age of eligibility in recent years, the age at which most people started receiving state pensions has now officially reached hit 66.

Men and women born between October 19, 1944 and April 1960 will begin receiving their pensions on their th 66th birthday.

For those born after that, the age of state pension in phases will be 67 67 and finally to৮ years.

The full state pension for new recipients is £ 175.20 per week

To receive the full amount, National Insurance must meet a variety of criteria, including 35 years of eligibility.

  • Use the government calculator to find out your state’s pension age

As people get longer, the age at which state pensions are received is increasing, and the government plans to increase it to 68৮.

However, the increase has been controversial, especially for women who have seen the most significant increase.

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Preachers took their fight to court

The explorers claim that women born in the 1950s were treated unfairly by the rapid change and the way they approached the victims.

Some of those involved in the campaign have recently lost legal challenge, claiming the move is illegal discrimination.

The coronavirus crisis has led many people to reconsider their retirement plans, especially those who feel they are at higher risk of an outbreak.

Former pension minister Rose Altman argued that the crisis meant people should be given access to their state pensions too soon, even if it was at a declining rate.

He also noted the large differences in life expectancy in different parts of the UK.

‘Plan ahead’

Pensioners of young workers are also urged to consider their retirement options, as the age of state pensions is likely to increase further over time.

“As people live longer, it’s clear that many will have to work longer,” said Pete Glancy, head of policy for Scottish widows.

“The state provides a timely reminder to everyone to examine your pension pots to increase the age of the pension and ask yourself if the savings you have made are enough to make a living like retirement.”

Tom Selby, a senior analyst at AJ Bell, said: “As the average life expectancy increases, the age of state pensions will inevitably follow.

“This means that young savers need to adopt a plan that they can’t reach their state pension age until they are state0 or older. We should take responsibility as soon as possible. “

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