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Thousands face unexpected retirement delay as state pension age changes
The full new state pension rises to £241.30 a week as the retirement age moves from 66 to 67 in monthly steps.
- Over 12 million pensioners will receive State Pension increases of up to £575 from Monday under the Government's "triple lock" promise, while the state pension age officially begins rising from 66 to 67 in monthly increments.
- Industry experts warn many people simply don't realise the phased age increase creates a "financial gap year" for those planning to retire at 66, as even small birth date differences can delay payments for months.
- Kirsty Ross, of People's Partnership, says workers should check their exact pension age, as full new State Pension payments rose to £241.30 weekly, up from £230.25, while basic pension payments increased to £184.90.
- Rachel Vahey from Bell says future increases are likely as the Government battles rising costs; the state pension age will rise to 68 between 2044 and 2046, with private pension access age rising from 55 to 57 by 2028.
- While the changes save the Treasury around £10bn annually, research from the Institute for Fiscal Studies suggests raising the pension age can push more people into poverty, prompting Experts to advise regular retirement plan check-ups.
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bucksfreepress.co.ukReposted by 
sloughobserver.co.uk
sloughobserver.co.ukState pension age rises to 67 — 5 crucial checks to make now
Millions of Britons face a state pension shake-up from April. Payments are rising - but so is the retirement age.
·High Wycombe, United Kingdom
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Telegraph & Argus+18 Reposted by 18 other sources
Thousands face unexpected retirement delay as state pension age changes
Millions of Britons face a state pension shake-up from April. Payments are rising - but so is the retirement age.
·Bradford, United Kingdom
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Total News Sources22
Leaning Left0Leaning Right1Center18Last UpdatedBias Distribution95% Center
Bias Distribution
- 95% of the sources are Center
95% Center
C 95%
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