Need to know
Treasury officials are reported to have told the OBR that the ‘current policy’ is to bring the increase in the retirement age forward by at least seven years, to 2037
What you need to know about state pension age rising to 68
- Millions more people face working until they are 68 if plans to increase the state pension age are brought forward.
- The state pension age is already rising from 66 to 67. This increase started in April 2026, with the state pension age gradually increasing by one month until it eventually reaches 67 by April 2028.
- There are already plans in place for the state pension age to rise again to 68 between April 2044 and April 2046.
- However, according to The Times, Treasury officials are reported to have told the Office for Budget Responsibility (OBR) that the “current policy” is to bring the increase in the retirement age forward by at least seven years, to 2037.
- Bringing forward a rise would mean about five million people who are aged between 49 and 55 at present having to work or wait an extra year before being eligible for their state pension.
- The Tory government committed to raising it to 68 by 2037, up to seven years early. Labour began a review of state pension age last year and ministers have insisted that no final decision has been made.
- “We assume that the state pension rises to 68 in 2037-39. The Treasury has confirmed to us that this is the government’s current policy position, rather than the legislated increase set in the Pensions Act 2007,” the OBR reportedly said.
- It added that the Government faced an additional cost of £6billionn for every year the state pension age rise was delayed.
- However, the Treasury hit back, with a spokesperson insisting: “This is untrue. The law remains to increase to the State Pension to 68 in 2044. In July 2025 we announced the launch of the third review of the state pension age, as required by legislation.”
- Torsten Bell, the pensions minister, also last week said that the Labour Government had not announced any change of policy in a series of posts on X.
- You can check your state pension age on GOV.UK by entering your date of birth.
- It comes after the state pension increased by 4.8% in April 2026, in line with the triple lock. The triple lock guarantees the state pension increases every April in line with whichever is the highest of earnings growth in between May to July, inflation in September, or 2.5%.
- The full new state pension is worth £241.30 a week and the old basic state pension is £184.90 a week.
- These are the full amounts of state pension that you can get. You may receive less than these amounts depending on your National Insurance record.
- READ THE FULL STORY: Five million people risk having to wait extra year to claim their state pension
