Are you sure you want to delete your account?
You have indicated you do not agree to our terms of use, do you wish to delete your account?
Login
person
lock_outline
Why not sign up?

You will also be registered for the agent to contact you via other means you provide, with information relevant to your property search.

Register
There was an error creating your account, please try again. If the problem persists, please contact us and we will investigate.
Password does not match
How would you like to be contacted?

What age will you be able to retire?

Published: 13/01/2022 By Hannah McCormack

Last week the Government launched a review of the State Pension age. Based on the latest life expectancy data the review will look at whether the pensionable age is currently appropriate.

As it stands the State Pension age is 66 with two further increases as follows:
A rise to 67 for those born on or after April 1960
A rise to 68 for those born on or after 1977

The new review must be published by May 2023 and will deem whether its acceptable to bring the new State Pension age to 68.

As we are living longer and the amount of people over the State Pension age gets larger the Government has to plan accordingly. People rely on the State Pension so the Government needs to ensure it is fair and clear to the taxpayer so they can plan for their retirement.
 
According to the Government website their review will consider the following when deciding whether to increase the State Pension age:

  • examine the implications of the latest life expectancy data
  • provide a balanced assessment of the costs of an ageing population and future State Pension expenditure
  • consider labour market changes and people’s ability and opportunities to work over State Pension age
  • and develop options for setting the legislative timetable for State Pension age that are transparent and fair

For reference https://www.gov.uk/government/news/second-state-pension-age-review-launches

If you need guidance when it comes to planning for your retirement let our expert financial advisor talk you through all your options, the first meeting is free with no obligation to commit. Call us on 020 8661 7878 or fill out our contact form here