![\"All](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/04\/0_state-pension1.jpg\")
<\/p>\nThe state pension age is 66 but rising to 67, with the DWP payments paid out at two rates<\/p>\n
All UK households told ‘prepare’ for world where DWP state pension doesn\u2019t exist<\/p>\n
UK households have been urged to “prepare for a world” where the state pension “doesn’t exist”. As it stands, the state pension is paid out by the Department for Work and Pensions (DWP<\/a>) for in and around 13 million retirees.<\/p>\n The state pension age is 66 but rising to 67, with the DWP payments paid out at two rates: the Basic state pension, for people born before 1953 (if they’re women) or 1951 (if men), and the New, which was introduced in 2016.<\/p>\n But Lord Mackinlay has written in the Telegraph newspaper this weekend, suggesting the state pension may not be long for this world.<\/p>\n READ MORE Major UK parcel firm collapses in blow for households awaiting deliveries<\/a><\/p>\n Lord Mackinlay told the paper: “Young people need to prepare for a world where the state pension doesn\u2019t exist.<\/p>\n “Our welfare system is straining under the weight of a population it was never designed to support.”<\/p>\n Chartered accountant and tax adviser Lord Mackinlay of Richborough was previously MP for South Thanet and served on the DWP and Public Accounts Select Committees.<\/p>\n He explained: “The number of retirees is forecast to grow significantly in the UK, increasing to 14 per cent of the population by 2032, equal to 13.7 million, with a reduction in the number of children.”<\/p>\n He went on: “Income tax receipts of \u00a3331bn are now outweighed by welfare spending of \u00a3333bn.<\/p>\n “The situation worsens in the new fiscal year as billions more is paid out on the reversal of the two-child benefit cap and usual inflationary uprating.”<\/p>\n The warning comes as the Triple Lock hike increases everybody’s new state pension rate by \u00a3575 a year – after the Labour Party<\/a> pledged to honour the metric, which was first introduced by the Conservative Party<\/a> government.<\/p>\n The Tories<\/a> and Liberal Democrats<\/a> coalition government created the Triple Lock back in 2010, before it kicked in a year later. But it is coming at a cost.<\/p>\n The former MP said: “With the state pension age starting another period of extension from 66 to 67 from this month, younger workers should be wondering if a state pension will be possible upon their retirement decades hence.”<\/p>\n","protected":false},"excerpt":{"rendered":"The state pension age is 66 but rising to 67, with the DWP payments paid out at two…\n","protected":false},"author":2,"featured_media":526342,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,2215,4176,4174,4175,56,54,55],"class_list":{"0":"post-526341","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dwp","10":"tag-finance","11":"tag-personal-finance","12":"tag-personalfinance","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/526341","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=526341"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/526341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/526342"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=526341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=526341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=526341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}