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Original poster

Would you take £12.5k now to access your state pension earlier?

104 replies

AllaMova · 17/06/2026 19:12

The Government are apparently considering allowing people under the age of 40 to take a £12.5k lump sum in exchange for being able to access their state pension a year later. You’d need at least ten years of national insurance contributions in order to qualify, if it goes ahead.

Would you take this?

I think I would - I could stick it in a S&S ISA, in order for it to grow over time. I think it’s a pretty good idea, especially for those who are looking to buy a house.

https://www.theguardian.com/commentisfree/2026/jun/09/young-people-money-citizens-advance-generations-older-people

OP posts:
user5683926547 · 17/06/2026 19:21

It’s not an awful idea, but 12k wouldn’t really go far with house prices round here, South East. Might work better if you could do 2 or 3 years swap. I suspect SP age will be 70 before long anyway!
Would people be free to do as they wished with it? I could see people blowing it on a holiday and then grumbling they couldn't retire with their peers. Perhaps it needs restrictions on what you could do with it - house deposits, investment, etc.

TofuTuesday · 17/06/2026 19:21

Do you mean delay taking it and then get a lump sum at 67 or whatever?

Original poster
AllaMova · 17/06/2026 19:15

user5683926547 · 17/06/2026 19:14

I think you mean a year later, not earlier.

You’re right, I just edited my post. Apologies.

OP posts:
user5683926547 · 17/06/2026 19:14

I think you mean a year later, not earlier.