{"id":201684,"date":"2025-10-15T11:34:11","date_gmt":"2025-10-15T11:34:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/201684\/"},"modified":"2025-10-15T11:34:11","modified_gmt":"2025-10-15T11:34:11","slug":"uk-state-pension-age-the-two-years-its-set-to-increase-to-67-then-68-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/201684\/","title":{"rendered":"UK State Pension age: The two years it\u2019s set to increase to 67 then 68 | Personal Finance | Finance"},"content":{"rendered":"

The State\u00a0Pension<\/a> age is set to increase, with experts conflicted on whether it should rise sooner. After the change was announced more than a decade ago, it may finally come into play soon.<\/p>\n

In 2026, the State Pension<\/a> age will increase to 67 from 66. By 2028, this will be fully implemented for men and women. The change has been looming for a while, but now, it\u2019s drawing closer. There may even be a further increase from 67 to 68 between 2044 and 2046.<\/p>\n

You may be wondering why the State Pension<\/a> age is rising. According to International Business Times<\/a>, the increase is a response to long-term demographic and economic pressures.<\/p>\n

With people living longer and the population ageing, the cost of state pensions is climbing.<\/p>\n

Currently over \u00a3175 billion annually, the cost is projected to reach nearly 8% of GDP within 50 years, up from 5.2% today.<\/p>\n

All those affected by changes to their State Pension<\/a> age will receive a letter from the Department for Work and Pensions (DWP<\/a>).<\/p>\n

The Pensions Act 2014 which raised the State Pension<\/a> age also tweaked its phasing. As a result, people born between March 6, 1961, and April 5, 1977, will be eligible to claim the State Pension<\/a> once they turn 67.<\/p>\n

Chancellor Rachel Reeves<\/a> last month said a review which could see the age being increased even further is needed to ensure the system is \u201csustainable and affordable\u201d.<\/p>\n

The Government review is due to report in March 2029 and Ms Reeves said it was \u201cright\u201d to look at the age at which people can receive the state pension<\/a> as life expectancy increases.<\/p>\n

Rachel Vahey, head of public policy at AJ Bell, said: \u201cThere is an increase to age 68 pencilled in for 2046, but a faster increase is definitely on the cards.<\/p>\n

\u201cThe first two reviews of the state pension<\/a> age advocated bringing this forward, but successive governments have treated the issue like a hot potato. This latest state pension<\/a> age review, however, may eventually force the government\u2019s hand.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The State\u00a0Pension age is set to increase, with experts conflicted on whether it should rise sooner. After the…\n","protected":false},"author":2,"featured_media":201685,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,87484,87485,1294,4176,4174,4175,1445,2221,56,87483,54,55],"class_list":["post-201684","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-demographic-pressures","tag-economic-sustainability","tag-economy","tag-finance","tag-personal-finance","tag-personalfinance","tag-rachel-reeves","tag-state-pension","tag-uk","tag-uk-state-pension-age","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/201684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=201684"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/201684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/201685"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=201684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=201684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=201684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}