To not have realised that my pension age has gone up?

[IIdentifyAsInnocent]

I'm 45, 46 this year. Checked online 2 years ago and my state pension age was 67, which I thought was bad enough, for some reason checked again today and it's gone up to 68!!

I knew that the govt were thinking of doing this but I have no recollection of being told it had actually happened. This affects my work pension which I now can't take until 68 too as it aligns to state pension age.

Annoyingly, my brother who is 2 years older can still retire at 67!
Have I missed some huge public announcement?

Surely that would tip even the British into rioting? Look at the huge amounts of NICs we pay. Already the SSP and SMP levels are a joke.

I thought they were planning to increase it by a year per decade of birth? So 72 for kids born in this decade?

I was only skim reading so I could have that wrong.

As I said in the first line of my OP, I am 45! 😂 That is a friendly laughing face not a mean one.

I knew it was going up in future for those younger than me but mine was always 67, now they have sneakily made it 68

I know! Complete reading fail there, sorry been a long day!

Ah ok, that is rubbish and does seem sneaky.

Its the linking of my own personal pension thats upset me as much.
It feels a bit unfair that keeps slipping more out of reach too.

While we're all working until our late 60's we'll still hear the cry that there's not enough jobs for younger people...Jesus, I'm 51 and frankly they can have my job!

I'm looking at 67 to retire. Great.

I'm not even 34 yet and I can barely continue my hybrid office job. I honestly don't know what I'll do

This is what has pissed me right off too. I have my life planned to take early retirement at 60, and now I won't be able to.

We need to protest like the French did! I've just 40 and the thought of working until 67 is hard enough! Never mind older, we will all be on universal credit as we won't be able to work at that age!

Also affects when you can take 25% tax free - I was planning on getting a mortgage around age 50 on 5 years that is slightly more than comfortable, then paying off a chunk at 55. Now it will be 57 at least.

On a selfish note, I also worry about the collapse of the Teachers Pension. Basically current teachers pay for the pensions of retirees - however, fewer and fewer teachers are entering the profession, if they do they leave within 5 years and many don’t opt in the pension.

But the system atm is that you can take your private pension 10 years before you are eligible for state pension.

So I guess people will still stop work early -mid 60s and either rely on savings, private or workplace pension, downsized capital … or Universal Credit .

I don't blame you one bit. That's pretty cheeky.

How many of us are relying on our own pension provision to pay out a bit earlier than the state pension? Most of us, in my world.

I hadn't heard about the TPS either. Lots of teachers in my family and circle merrily retired at 58-60.

The burnout epidemic is going to be immense. Nevermind disability and chronic illness, with no early pension availability.

I hear you! Same age and position here, dont know how i can continue in my jobs for another 7 years, theyre very physical and im already struggling with my Arthritis!

Public sector pensions are now linked to state pension age.

Pension credit is pretty generous.

Exactly that. I wonder if it will impact the "bank of family" pyramid scheme that's keeping the housing market going?

Oh good grief. I need to go and check my own small print now. I'll need a drink first, I think.

This all feels quite sneaky.

Oh bloody hell. I was hoping to come back to the UK just before retirement but I think I will stay abroad with my 64 retirement age pension...

Yep this has narked me right off as well. It’s literally my own money and I’m being told I can’t have it until x year.

It has definitely made me reconsider how I save for retirement ie not locking everything into a pension I may not be able to access until my 60s if they keep moving the goalposts.

I'm 37 and I'm not expecting any state pension provision to be honest. I think the age will be increased to such an extent that actually you'll need to fund most of your retirement yourself.

I've got a S&S ISA that I consider my pre-pension savings to bridge the gap. So 55 to 10 years before state pension age = ISA, 10 years before state pension = private pension, then adding on state pension eventually!

Just hoping I'm saving the right amounts in the right places.

My parents were both dead by 65, I know that's early to die these days but fuck me I do sometimes wonder if I will even live to retirement age sometimes! I'm only in my 30s so by that time it'll probably be in the 70s 😂😭

68?

We may as well all just throw the towel in now

If people do this then it will mean that they will spend any funds that currently would be put towards care home costs. Basically storing up another nightmare for the public purse.