For those counting down the days to claim their pension, consider that certain benefits stop when you reach the official state pension age. It is worth calculating exactly what you will and won't be entitled to before reaching the threshold age, for while a forced retirement age of 65 no longer exists, you may not wish to keep working beyond that.
Currently, around 12.4 million people across the UK receive essential financial support through State Pension every four weeks. This regular payment of either £185.15 per week for the full, new State Pension or £141.85 per week for the basic old State Pension (Category A or B) is available for those who have reached the UK Government’s eligible retirement age.
State pension age is the earliest age you can start receiving your state pension and this increased to 66 for both men and women in October 2020. Daily Record pointed out that two further increases in the age at which you can claim have been set out in legislation and are currently under review. This could mean a gradual rise to 67 for those born on or after April 1960 and a gradual rise to 68 between 2044 and 2046 for those born on or after April 1977.
