State pension age is set to rise to 68 – when will you be able to retire? | Personal Finance | Finance

Traditionally, state pension age was 60 for women and 65 for men, but significant changes took place. It meant age equalisation occurred for both men and women at 65, and then the state pension age subsequently rose to 66.

However, this is not the end of the changes which will occur when it comes to the state pension age.

At present, two further increases are set in legislation – a gradual rise to 67, and then a gradual rise to 68.

The rise to 68 is currently planned for between 2044 and 2046, but this may not be the case for long.

The Government is currently consulting on pushing this increase further, and a review is considering if the timetable should be brought forward to 2037 to 2039.

READ MORE: State pensioners call for end to ‘two-tier’ payment system

This is because a default retirement age, or forced retirement at 65, no longer exists. 

The state pension age is continuously kept under review.

It means it could change again in the future, with Britons having to adapt to this.

Changes will depend on different factors such as life expectancy amongst people in the UK.