State pension age: When can I retire?

The state pension age is expected to rise, meaning that millions of workers will be forced to stay in work longer.

This number is expected to rise to 68 by the end of the 2040s, representing a major blow to the population households.

But what is the state pension age and how can you find out what your state pension age is?

Here's everything you need to know.

What is the AOW and when will the age increase?

The current state pension is currently paid to both men and women from the age of 66.

The state pension age will now rise to 67 years in 2028 and 68 years in 2046.

An earlier review by Sir John Cridland in 2017 recommended bringing that date forward to between 2037 and 2039.

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

Work and Pensions Secretary Mel Stride told MPs in March last year that while life expectancy is still rising, it is at a slower pace.

Among other factors, such as the coronavirus pandemic and the war in Ukraine, he said it would be appropriate to revisit the increase to 68 at a later date.

It comes after the government is said to be considering raising the state pension age to 68 as early as 2035, as The Sun revealed in January. But these plans have yet to be confirmed.

How would it have affected you?

Those in their early 50s would be most affected.

In particular, those born in April 1969 and April 1971, because they were heading towards a retirement age of 67 – but this would have meant working an extra year.

The state pension age has risen as the British get older.

This means that everyone will have to work longer according to the plans, but those born after April 1971 were already on their way to a state pension age of 68.

How exactly it affects you depends on your date of birth.

It comes after a recent report from the International Longevity Center suggests the retirement age may need to be raised to 71.

The think tank said anyone born after April 1970 could be forced to work longer to keep pace with the number of workers leaving their jobs before reaching state pension age.

However, this is exactly what experts at the International Longevity Center suggest will happen, and it is not confirmed.

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How can I calculate my current state pension age?

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

With the government tool you can find out how many years of premiums you have paid, how much AOW you will receive and the exact date on which you will receive your benefit.

It is important to note that you can retire at any time, but you must have a personal pension or retirement plan.

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