State pension: Expert on difference between ‘old’ and ‘new’
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Changes to the state pension age have been scheduled by the Government and these could impact the retirement of millions of Britons. People can check online to see if they will be affected.
The state pension age currently stands at 66, for both men and women.
However, two changes have been set out in legislation which will increase the state pension age.
The first increase will occur in 2028 under the Government’s current plans.
This will take the state pension age to 67.
Another increase is then set to take place between 2044 and 2046, raising the state pension age to 68.
Britons can use the Government website to see whether they can expect to be impacted by these changes.
The ‘Check your state pension age’ tool can also be used to find out other information about someone’s state pension age.
All people need to do when using the service is enter their date of birth.
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They can then find out what their state pension age is projected to be, and the date they will reach it.
The service can also show someone what their Pension Credit qualifying age is expected to be.
Pension Credit is a benefit which can be claimed by pensioners on lower incomes.
An individual’s Pension Credit age is usually the same as their state pension age.
Britons can also check when they will become eligible for free bus travel.
This can vary in different parts of the UK.
People living in England usually have to wait until they reach state pension age to get a free bus pass.
Those who live in Scotland, Wales or Northern Ireland can get a free bus pass from age 60.
A Government review into the state pension age is currently ongoing.
At the previous review, it was recommended that the next review assess whether the state pension increase to 68 should be brought forward.
If this happens, even more Britons would face a longer wait for their state pension.
The review must be published by May 7, 2023.
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