Many unaware of rise in State Pension age

17 April 2025

A major change to the State Pension age is just around the corner – but many people approaching retirement still don’t know about it.

The State Pension age is set to rise again in a year’s time, yet a significant number of people in their early 60s remain unaware of exactly when they'll be eligible to claim it. According to the Institute for Fiscal Studies (IFS), this lack of awareness could leave thousands unprepared, especially if they’re planning to retire before they can actually receive the State Pension.

Right now, both men and women can claim the State Pension from age 66. But from April 2026, that age will rise to 67 in monthly increments for anyone born after 6 April 1960, and for everyone born after 6 March 1961. 

According to the IFS, only 6 in 10 people surveyed by the IFS could correctly say when they’ll reach their State Pension age. Worryingly, IFS experts reported that “more than one in five people (22%) have knowledge gaps that can lead to them making possibly poor decisions about their savings or when they retire”.

For those already retired, the State Pension makes up around 44% of their overall income on average. That’s a significant portion, and for many people the State Pension will be their only source of retirement income. 

People who are unclear about when they can claim may make important financial or life decisions based on inaccurate assumptions. For instance, some might choose to leave work, pay off debts, or even relocate, thinking their State Pension is just around the corner – only to later find out that payments could be delayed by several months, or even up to a year.

Why is the State Pension age going up?

It’s largely down to life expectancy and the cost of paying pensions. People are generally living longer, which is great news, but it also means the government has to find ways to fund longer retirements. By increasing the State Pension age, the aim is to keep the system financially sustainable for future generations.

The next rise, from 66 to 67, will happen between April 2026 and March 2028. There’s also been talk of bringing forward a future increase to 68, possibly from 2044 although this isn’t certain.

What is your State Pension age?

Make sure you know your own State Pension age. You can check it in seconds using the government’s online State Pension age calculator here.

Also, check your National Insurance (NI) record to see if you have enough qualifying years to receive the full State Pension. In most cases, you’ll need at least 35 qualifying years to get the full amount. If you’ve spent time out of work or working part-time, you might have gaps in your record – but you may be able to make voluntary contributions to fill some or all of them.

Source

Only 6 in 10 people surveyed by the IFS could correctly say when they’ll reach their State Pension age: How aware are people of next year’s state pension age increase? Institute for Fiscal Studies. Accessed 14 April 2025.