State pension age: Next week marks significant date regarding changes – are you affected?

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While there’s no set retirement age in the UK anymore, the state pension age remains. That’s not to say those who have reached it need to retire, but rather, they have the option of receiving the state pension from that point in time – provided they’re eligible.

In the past, the state pension age stood at 60 for women while it was 65 for men.

However, a series of laws have meant changes have and are coming into effect – affecting both men and women.

An increase to the state pension age for women was set out under the Pensions Act 1995, with the change then accelerated via the Pensions Act 2011.

It meant the state pension age for women reached 65 back in November 2018.

Further changes were ahead, with the state pension age increasing for both men and women in recent times.

As of October this year, it will reach 66 for both sexes – albeit ahead of the further changes which are in-store.

Next week, an important date in the timetable of changes will fall.

That’s because on September 6, 2020, a certain group of people will reach state pension age.

This applies to those who have the date of birth between September 6 1954 and October 5, 1954.

Those born on the former date will have the state pension age of 66.

Meanwhile, those with the latter date of birth will have a state pension age of 65 years, 11 months, and one day.

Then, the next group of people to be affected by the changes under the current timetable are those born between October 6, 1954 and April 5, 1960.

These people will reach their state pension age on their 66th birthday.

A change to the way in which the government is phasing the increase to the state pension age has been set out under the Pensions Act 2014.

Under this timetable, the state pension age for men and women will increase to 67 between 2026 and 2028.

It means that rather than groups of people reaching state pension age on a specific date, those born between April 6, 1960 and March 5, 1961 will reach state pension age at 66 years and a specified number of months.

That’s not all, however. Under the Pensions Act 2007, the state pension age for men and women is set to increase from 67 to 68 between 2044 and 2046, with the timetable based on current law.

Should a person want to check their state pension age, they can do this online.

GOV.UK hosts a tool which can be used to find out when one reaches state pension age, as well as Pension Credit qualifying age.

The “Check your State Pension age” tool requires the user to input their date of birth.

Depending on when they were born, a person may need to state their sex.

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