According to the DWP (Department for Work and Pensions), the State Pension age will rise for individuals who are born after 1960.
This means that people will have to wait longer to claim the sum — for men, the age will rise to 67 whilst the age for women will rise to 68 between 2044 and 2047.
Because of the way the rise is being introduced, only those born after April 5 1960 will be affected by the change.
As a result, those born between April 6, 1960 and March 5, 1961 will reach their state pension age at 66 years.
For example, anyone born between May 6, 1960 to June 5, 1960 will reach state pension age at 66 years and two months.
And those born between April 6, 1977 and May 5, 1977 will reach state pension age on May 6, 2044.
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The age at which people receive the state pension has been steadily increasing as people continue to live longer — however, according to the Express, state pensioners may be eligible for what is known as the 'Additional state pension'.
The Additional State Pension is an extra amount of money you could get on top of your basic State Pension if you’re:
- A man born before 6 April 1951
- A woman born before 6 April 1953
There is no fixed amount for the Additional State Pension.
How much you get depends on:
- How many years you paid National Insurance for
- Your earnings
- Whether you’ve contracted out of the scheme
- Whether you topped up your basic State Pension (this was only possible between October 12 2015 and April 5 2017)
The state pension increases each year in line with the highest of average earnings, prices and 2.5 percent under the triple lock, though this has been temporarily suspended for 2022-23.
From October 6, 2020, the state pension age became 66 for men and women in the UK, with the government re-evaluating the state retirement age at least once every five years.
To find out more about Additional State Pension, visit the Gov.uk website here.
