Millions will be affected by state pension changes
The pension age will be increasing to 67.
Anyone who will be turning 65 over the next few years is being sent a warning about their state pension.
People traditionally start claiming the state pension from when they turn 66 but that is all set to change.
The UK state pension age will soon start to rise to 67 from next year.
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This will affect everyone who was born after March 6, 1961 (currently aged 64).
These people will not start receiving their pension until they are 67.
The state pension is worth £11,973 a year, so those affected will miss out on this money.
This is a big blow for those closer to their 66th birthday, who may have to work for longer before they can retire.
There are also changes for people born between April 1960 and March 1961, as the pension age gradually increases.
For example, someone born between September and October 1960 will have to wait until they are 66 and six months for their pension
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It’s crucial people in their late 50s and early 60s are aware of the date they will be able to claim their pension as this will impact their retirement planning and how much longer they will have to work.
The UK pension age usually increases every couple of decades reflecting rising life expectancy and the ageing population.
Experts at Pension Bee explained: “Currently both men and women can claim this from the age of 66, but for those born after April 5, 1960, it’ll rise gradually each month and by one month at a time, until it reaches 67 in April 2028.
“It’ll eventually rise to 68, affecting those born after April 1977.”