The age at which individuals can start claiming the state pension is scheduled to increase starting next year. If you were born between April 6, 1960, and May 5, 1960, your state pension age will be 66 years and one month. This age will gradually rise to 67 over the following period.
For those born after April 1977, the state pension age is projected to rise to 68. Discussions have been ongoing regarding advancing this change, but a decision has been postponed.
In response to concerns about retirement income adequacy, a comprehensive review of pension saving has been initiated. Work and Pensions Secretary Liz Kendall will reconvene the Pensions Commission to explore methods to promote increased retirement savings.
The state pension eligibility age can be verified on GOV.UK by entering your date of birth. It is distinct from any private or workplace pension schemes you may have. Currently, the earliest age at which you can access private pensions is 55, but this will increase to 57 by April 2028.
The new state pension, valued at £221.20 per week for eligible individuals, requires 35 qualifying years in the National Insurance record to obtain the full amount. The state pension amount increases annually in accordance with the triple lock pledge.
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