Pension age hike means you could have to wait two extra years to secure your sum

May 2, 2022

The state pension age is currently 66, but is rising to 67 by 2028.

Consequently, the changes are set to impact people who are approaching retirement age.

Those who were hopeful of accessing retirement cash, perhaps to take an early retirement, may also need to reassess their plans.

The Government explains who is likely to be affected, stating: “Individual members of registered pension schemes who do not have a protected pension age but take scheme benefits before age 57 after April 5, 2028 or those who would like to have taken a benefit but will not be able to.

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