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However, when the Conservative and Liberal Democrat coalition took power, the Pensions Act 2011 [15] accelerated the rise of the state pension age to 66 for both men and women by 6 October 2020. [16] Under the Pensions Act 2014, the coalition government again accelerated the rise in the state pension age to 67 by 6 April 2028. [17]
The Act amended the timetable for increasing the state pension age to 66. Under the Pensions Act 2007, the increase to 66 was due to take effect between 2024 and 2026. This Act brought forward the increase, so that state pension age for both men and women began rising from 65 in December 2018 and reached 66 in October 2020.
It incorporated the main findings of the all-party Pensions Commission in 2006 as set out in the white paper Security in retirement: towards a new pension system [2] published in May 2006. The key provisions were: [3] Reduction of the qualifying years for a full basic State Pension from 44 years for men and 39 years for women to 30 years for both.
When it comes to retirement age, according to Age UK, “State Pension age is gradually increasing for men and women, and will gradually rise to 67 for those born on or after April 1960.” As for ...
Between late 2018 and late 2020, the state pension age for men and women rose from 65 to 66, leaving around 700,000 65-year-olds in the UK waiting another year before they could receive a state ...
As the UK's biggest public service department it administers the State Pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers. [6] It is the second-largest governmental department in terms of employees, [ 1 ] and the second largest in terms of expenditure (£228 billion as of July ...
These percentages are the entitlement of employees who have contributed to the scheme for a full working life. This is defined as the number of years between age 16 and State Pension Age. If the employee was over age 16 on 6 April 1978, their working life is defined as the number of years between 6 April 1978 and their State Pension Date.
The Government plans to have a further review to reconsider plans for the state pension age to rise to 68.