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State pension age to rise in 2026 to everyone born in these years

Changes are coming to the state pension age, with potentially significant consequences for those born in a few particular years.

From 2026, the UK’s state pension age is set to start rising from 66 to 67, with the increase expected to be implemented fully for men and women by 2028.

Hands of an elderly woman counting money.

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Changes are coming to the state pension age (Image: Getty)

Under changes introduced by the Pensions Act 2014, those born between March 6, 1961 and April 5, 1977, will be entitled to claim the state pension once they reach the age of 67.

These conditions were the result of the 2014 legislation, which sped up the increase in the eligible age by eight years.

Anyone affected by the changes will receive a letter from the Department for Work and Pensions well ahead of their scheduled state pension eligibility, which should give them time to plan effectively.

Communications are usually sent out at least two months before individuals reach the state pension age.

A further increase in the eligible age is scheduled to take place between 2044 and 2046, when the threshold will rise from 67 to 68.

This proposal is scheduled for review before the end of this decade, though, with any changes required to pass through Parliament before they can become law.

People of all ages can use the state pension age checker on the gov.uk website to confirm their eligibility for the payment.

A recent high profile pension fallout has been led by the WASPI women, a campaign group founded in 2015 to represent those who say the way in which the state pension ages for men and women were equalised was unfair.

According to the group, the increase in the female retirement age from 60 to 65 was poorly communicated after the Pensions Act 1995, leaving millions of women badly affected.

WASPI argue the government should provide “fair compensation” to the women concerned, which was calculated at £2,950 in last year’s report.

POLL: Do you trust Rachel Reeves with your pension?

Seventeen major pension providers have pledged to invest tens of billions into UK infrastructure and businesses under a new initiative welcomed by Chancellor Rachel Reeves.

The voluntary agreement – an expansion of the Mansion House Compact – commits signatories to allocate at least 10% of their defined contribution (DC) default funds to private markets by 2030. Of that, a minimum of 5% must be invested in UK assets, provided suitable opportunities are available. The move is expected to unlock at least £25 billion for the UK economy by the end of the decade, with some providers indicating they may exceed the target.

UK Prime Minister Keir Starmer Immigration White Paper News Conference

Do you trust Rachel Reeves with your pension? POLL (Image: Getty)

Ms Reeves said the initiative would help British start-ups and high-growth firms access the capital they need to scale, while also aiming to improve returns for savers.

The so-called Mansion House Accord builds on the Compact signed in July 2023, which saw 11 pension schemes commit to investing 5% of their DC defaults in unlisted equities such as venture capital and growth equity.

The latest agreement covers £252billion in assets, based on current holdings – a figure expected to grow over time. The signatories include Aegon UK, Aon, Aviva, Legal & General, LifeSight, M&G, Mercer, NatWest Cushon, Nest, Now: Pensions, Phoenix Group, Royal London, Smart Pension, The People’s Pension, SEI, TPT Retirement Solutions and the Universities Superannuation Scheme (USS).

Ms Reeves said: “I welcome this bold step by some of our biggest pension funds, which will unlock billions for major infrastructure, clean energy and exciting start-ups — delivering growth, boosting pension pots and giving working people greater security in retirement.”

Pensions minister Torsten Bell said: “Pensions matter hugely, they underpin not just the retirements we all look forward to, but the investment our future prosperity depends on. I hugely welcome the pensions industry’s decision to invest in more productive assets, from growing companies to infrastructure. This supports better outcomes for savers and faster growth for Britain.”

However, Tory Shadow Chancellor Mel Stride claimed the idea smacked of “desperation”. He told the Financial Times: “Pension funds must be free to make investment decisions based on what’s best for savers.”

Scottish Widows, the pension arm of Lloyds Bank, has refused to sign the deal. Chirantan Barua, Scottish Widows’ chief executive, said that investment decisions would be guided solely by returns instead of geography, the Telegraph reports. He said: “We will continue this investment approach to support our communities where it generates strong returns for pensioners.”

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