The Department for Work and Pensions (DWP) has confirmed three new state pension ages under a threshold change that will affect millions of Britons. Under current legislation, the state pension age is 66 for both men and women. However, planned increases will see it rise to 67 between 2026 and 2028, and to 68 between 2044 and 2046.
Who is affected by the state pension age changes?
If you were born between 6 April 1960 and 5 April 1977, the increase to 67 is likely to affect you. For those born after 5 April 1977, the state pension age may be 68. The DWP has outlined that further changes cannot be ruled out, according to pensions expert Hannah Martin, founder of Rich Retiree.
Martin warned: "I don't think that we can rule out any potential future changes to the state pension. Realistically, the Government is in a difficult position with an ageing population and large welfare bill. And one way they may try to tackle this is by increasing the age again later on."
Why is the state pension age increasing?
My Pension Expert cites three main reasons behind the rule change: the triple lock means payments are rising, people are living longer, and the need to balance generations. The triple lock typically increases state pension payments each year by the highest of inflation, average earnings growth, or 2.5%. As the retired population grows, the overall cost of providing the state pension takes up a larger share of public spending.
"When the modern State Pension was first introduced, most people drew it for only a short period. Today, life expectancy has increased, and many people now spend 20 years or more in retirement," My Pension Expert stated. "Raising the State Pension age is intended to share costs more fairly between current pensioners and younger workers who fund State Pension payments through taxes and National Insurance."
Challenges and future outlook
However, charities and campaign groups highlight that working longer can be difficult for some people, especially those in poorer health or in manual roles. Martin noted that life expectancy has plateaued after a drop between 2019 and 2021, which could pose an issue for further increases. She added: "The Government has a legal responsibility to ensure that the state pension age is appropriate, and that, on average, people can expect to spend a specified proportion of their adult life in retirement. So while there is no official cap on the state pension age, the Government can't keep increasing it forever."
Currently, the state pension age is 66 for both men and women. The increase to 67 will begin on 6 May 2026 and conclude by 6 April 2028. The further increase to 68 is planned for 2044 to 2046, though experts suggest this could be brought forward. Martin urged claimants to stay informed and plan accordingly for potential future changes.
