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

[AllaMova]

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

I’d take it in a heartbeat. If my DP and I both took it, we’d be able to get on the housing ladder and escape the horrendous cycle of rental properties.

I think the privilege of being able to paint a wall or get a pet would be worth working an extra year.

Does anyone know why this is restricted to people under 40? My current retirement age is 67 but I’m going to have to work until I’m 70 at least to pay off our mortgage (because I missed out on the mythical house discount when I bought in the 80s!), so I’d very happily take my pension a year later in return for £12k.

It's presumably a suggestion (it's not a government proposal I don't think?) to address the problem of high living costs making it impossible for younger people to save.

There are social consequences e.g. delayed home ownership impacts birth rates.

We don't need the money but I'd take it for a few reasons: 1. I could die before then and not get anything, 2. I don't trust the that the state pension will still be universal when I retire and if it is means tested then I doubt I'd qualify, 3. I could afford to retire at state pension age anyway.

Won't happen though.