The government retirement age is 66 years old and set to rise further

The age at which most people formally start receiving state pensions is now 66 years old, after steady increases in the qualifying age in recent years.

Men and women born between October 6, 1954 and April 5, 1960 will begin receiving their pension on their sixty-sixth birthday.

For those born next, there will be a gradual increase in the state retirement age to 67, and ultimately 68.

The full state pension for new recipients is £ 175.20 per week.

To receive the full amount, various criteria must be met including 35 eligible years for National Insurance.

• Use the government calculator to find out the state’s pension age

The age at which people receive a state pension increases with the age of people, and the government has plans for Increase to 68 to be offered.

However, the increases were controversial, especially for the women who experienced the greatest spikes.

Campaign activists claim that women born in the 1950s have been unfairly treated through rapid changes and the way those affected have been informed.

Some of the campaigners He recently lost a legal challenge, Claiming that this step was illegal discrimination.

The coronavirus crisis has prompted many people to reconsider their retirement plans, especially those who feel they are most at risk of an outbreak.

Former pension minister Ross Altman said the crisis meant there was a “strong case” for giving people early access to their government pensions, even if at a reduced rate.

She also noted the large differences in life expectancy in different regions of the United Kingdom.

‘Plan ahead’

Pensioners have also urged younger workers to consider their retirement options, with the strong likelihood that the government retirement age will rise over time.

“As people live longer, it is clear that many will also have to work longer,” said Pete Glancey, head of policy at Scottish Arms.

“Increasing the state retirement age provides a timely reminder for everyone to check out pension funds and ask yourself if the savings you have collected are sufficient for the kind of life you want in retirement.

“As life expectancy continues to rise, the nation’s retirement age will inevitably follow suit,” said Tom Selby, senior analyst at AJ Bell.

“This means that younger savers may need to plan with the assumption that they may not reach state retirement age until or after age 70. Anyone aspiring to more than the minimum retirement minimum needs to take responsibility as soon as possible to build their own retirement pool. “