State pension age starts rising to 67 - here's how much you get and when
✨ AI Summary
🔊 جاري الاستماع
State pension age starts rising to 67 - here's how much you get and whenJust nowShareSaveAdd as preferred on GoogleKevin Peachey,Cost of living correspondentandJo Krasner,Radio 4's Money BoxGetty ImagesThe age at which millions of people can claim their state pension is starting to rise to 67 from Monday, when the monthly payments also go up.The current state pension age is 66 but this will increase in stages over the next two years until it reaches 67.The first people to feel the impact will be those born between 6 April and 5 May, 1960, who will have to wait an extra month before they are paid a pension.The move is designed to reflect longer life expectancy with many younger people anticipating working into their 70s, although the government is still reviewing any further pension age rises.Peter Bradbury, from Preston, will be entitled to his state pension when he is aged 66 and eight months."It is annoying," he told BBC Radio 4's Money Box, having thought as a young man that he would have eventually got his pension at 65. "I'll do some other work and I can't travel as much as I wanted to."In terms of day-to-day expenditure it doesn't affect it that much, but all those little extras you would expect have gone."At a guitar group at the Florrie in Liverpool, some younger attendees told the BBC they believe the pension age will rise in years to come.Laura WilliamsLaura expects the pension age to continue to riseLaura Williams, 38, from Netherley, who works in a school, said: "By the time I get to [pension] age I will probably be around 70, I reckon."She was worried about the quality of life she would have by then."The things you might put off doing until you have got the freedom, and maybe the finances, to do it, your body might not be able to do by then," she said.The rise from 66 to 67 is expected to save the Treasury about £10bn a year by 2030.In general, people need 35 years of qualifying...




