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?

Wait,what? Public sector work pensions cant be taken if you retire before 67?

I saw a storymin.paper today saying if triple lock is retained then the 68 years might need to be brought in earlier. I've told my DS to expect it to be 70 before he can retire and to save now if he wants to retire earlier than that.

Benefits I am guessing. There's loads of work you are just physically not up to into your late sixties. Universal credit for the last ten years or so of people's working lives will become more normal.

Don't worry about teaching though, schools manage you out in your fifties if you're still in the classroom.

My father died at 54. In my most morbid moments I console myself that my death in service will pay for my kids to go to uni!

I don't think it will rise again. If anything, I think they might drop it a few years.

The amount they are saving must be partially offset by the rise in claims for PIP, carers allowance, and universal credit from those in their 60s who are unable to work, or to find work suitable for them.

Not to mention the childcare and social care crisis due to the unavailability of grannies who are still working, but used to prop these systems up for free.

As the data becomes clearer, opportunistic politicians will realise that the money saved is not worth the votes it could buy, IMO.

@Hedjwitch You need to check. I’m a teacher and the TPS changed nearly 10 years ago to be tired to state pension age. My friend who is NHS also can’t claim hers to state pension age.

Women born in the 50's (many who worked from the age of 16 ) had 6 years added on , they were protesting in the WASPI campaign about lack of information, not equalising of SPA with men . I am very much afraid this lack of information seems to be continuing now with things being changed under the radar. As a pp said, sneaky.

They are but you can still take them early if you choose.

It changed in 1995.

For the people talking about the Teachers Pension Scheme - you definitely can take your pension earlier than 67 ./ 68 / whatever is state pension age -but you'd have to accept it would be actuarially adjusted. See TPS details; https://www.teacherspensions.co.uk/members/planning-retirement/types-of-retirement/early-retirement.aspx

Well mine jumped by six years from 60 to 66.
I'm 66 this year.. Will eventually get it.
My older sisters were 60 and only 5 years from me to my next sister.

But with big penalties

Which when i first started paying mine it was 60 years, then 65, then 67 now 68 without penalty. Its my money.

I definitely will be having other options.

Thanks @BookWorm45. Although part of me is curious to see how 68 year old me would be like in the classroom, however robots may have taken over by then.

It really didn't. From the government website:

The Pensions Act 2011 accelerated the timetable for equalising State Pension age at 65, so that it was completed in November 2018, and brought forward the increase in State Pension age to 66 to between 2018 and 2020. The Pensions Act 2014 brought forward the increase to 67 to between 2026 and 2028.

The current legislated pathway is for the State Pension age to rise to 67 between 2026 and 2028 and 68 between 2044 and 2046. The legislation stipulates that this Review must consider whether this pathway is appropriate.

My point is that there has to be a review, which as far as I know hasn't happened. And if it did then given the lowering death age it is wrong.

I’m 42 and assume I’ll have to be 90 before I can retire 🙄😩

My Mum recived her pension at 60.. two years later she died.

I think it depends which ones, the current NHS 2015 scheme and the previous 2008 one both allow you take take the pension earlier than state pension age, they just reduce how much your get each year to allow for it. The 1995 pension has a retirement age of 60 so pays in full from then.

Well I'm clearly in the minority as I'm 59, have a fairly active job and not worried about waiting until I'm 67 to retire! Clearly if my health was to change that would be a different issue. I have a small private pension that I could take now but at the moment plan to wait until it becomes payable at 65.

My grandmother got dementia in her 70s, can't even imagine what it would have been like if she worked in my profession at that age with a lot of responsibility and inevitably making a lot of costly errors. But hey ho that's where it's going seemingly!

The state pension age changed to 68 in 2007 for those now aged 46 so its not changed recently. Still annoying though!

But it didn't. It legislated to allow it to happen subject to a review looking at average age of death etc.

I'm in the 68 band. Pees me off. My dad retired early and was diagnosed with a chronic illness in his mid-60s which has unfortunately defined his life. A colleague of mine died at 63 so he never claimed his state or company pension. I plan to retire at 60 but that's only because my company pension is generous. I have a chronic illness myself and want to enjoy what time I have left before it claims me. My dad's illness made me realise that.

On another thread WASPI women were basically called stupid for not realising their retirement age had been increased, and also told that they had been informed. Most were not it was done in an underhand somewhat sly way.

You are surprised that there appears to be a move to increase the pension age again but at least you have twenty plus years to do something about it providing you are earning enough to do so. Again it appears that you were not directly informed.

I am surprised that they haven't learned the lessons of waspi. I've never called WASPI women stupid.

Unless we overpay (which I am planning on, when rates come down eventually) then our mortgage is paid off when we are 67, so I want to get that down to 63 and see if I can go part time. No fucking way I’m working until I’m 70.