The Department for Work and Pensions (DWP) published its review into the State Pension age on 19 July 2017, in which it has proposed a new timetable for the anticipated rise of the State Pension age to 68.
Adopting the recommendation of the Cridland report into state pension increases, the Government has confirmed the rise from 67 to 68 between 2037 and 2039, earlier than the current legislation which sees the rise between 2044 and 2046.
Assuming the proposal is approved by Parliament once the House returns after the summer break, the change will affect everyone born between 6 April 1970 and 5 April 1978. Anyone born after 5 April 1978 will have a State Pension Age of 68 as planned.
The Government had already committed to increasing the State Pension age from 65 to 66 by October 2020, to 67 by 2028 and to 68 by 2046.
Details of the review and the Cridland report can be found here:
This article is based on our interpretation of the DWP review, which is subject to change and yet to become law. It does not constitute nor is to be construed as advice. If advice is required please contact your usual consultant.
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