State pension age: When can I retire?

THE state pension age is set to rise meaning millions of workers will be forced to stay in employment for longer.

It is set to increase to 68 by the end of the 2040s, in a major blow for households.

But what is the state pension age now, and how can you work out what your state pension age is?

Here's everything you need to know.

What is the state pension and when does the age rise? 

At the moment the current state pension is paid to both men and women from age 66.

The state pension age is already due to rise to 67 by 2028 and 68 by 2046. 

A previous review from Sir John Cridland in 2017 recommended bringing that date forward to between 2037 and 2039.

But average life expectancy has not risen as he predicted since then.

Work and Pensions secretary Mel Stride told MPs in the Commons back in March last year that while life expectancy is still rising, it's doing so at a lower rate.

On top of other factors such as the coronavirus pandemic and the Ukraine war, he said it would be appropriate to review the rise to 68 again at a later date.

It comes after the Government was said to be considering making the state pension age 68 by as early as 2035, as The Sun revealed in January. But these plans are yet to be confirmed.

How would it have affected you? 

Those in their early 50s would have been most affected.

In particular those born in April 1969 and April 1971, as they were heading towards a pension age of 67 - but this would have meant they would have to work one year longer.

The state pension age has been rising as Brits get older.

That means everyone will have to work longer under the plans, but those born after April 1971 were heading for a state pension age of 68 already.  

Exactly how you're affected will depend on when you were born.

It comes after a recent report from the International Longevity Centre suggests the retirement age may have to rise as high as 71.

The think tank said it could see anyone born after April 1970 forced to work longer to keep up with rate of workers exiting their jobs before reaching state pension age.

However, this is just what experts from the International Longevity Centre suggest will happen and is not confirmed.

How can I work out my current state pension age? 

You can use the state pension checker tool on Gov.uk. 

The government tool is there to help you find out how many years of contributions you have, how much state pension you’ll get and the exact date on which you’ll receive payments.

It’s important to note that you can retire at any time, but you need to have a personal pension or retirement plan in place.

Do you have a money problem that needs sorting? Get in touch by emailing money@the-sun.co.uk.

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