Are you aware the state pension age is increasing next year?

Another rise in the state pension age (SPA) is now only a year away. The age you start to draw your state pension will rise from 66 to 67 starting in April 2026, affecting anyone born after 6 April 1960. New Research from The Institute of Fiscal Studies  (IFS) has found that whilst most people in the 55–65 age bracket know their SPA, a but quite a large number are unaware of it, or are even mistaken about their SPA.

For those whose SPA is between 66 and 67 years of age, i.e. those who will reach SPA between April 2026 and March 2028, in the study 42% were found to know when their SPA is.  Another 42% overestimate their SPA.  However, 16% (or one in six) of the study group either do not know when their SPA is,  or underestimate it.  The study found that those with lower levels of wealth are particularly likely to be mistaken about their retirement date.

You can find your state pension age here. Please do not hesitate to contact us if you need any further information.