POLL: Should the state pension retirement age be lowered to 63? | Personal Finance | Finance
Calls have been made for the Department for Work and Pensions to lower the state pension age to 63.
The current state pension age is 66 for men and women but some experts have called on the DWP to considerably reduce it.
The idea was put forward by Steven Cameraon, pensions director at Aegon, with those who cannot work because of ill health or caring responsibilities given the option to take their state pension “up to three years earlier”.
State pension payments are going up 8.5 percent this month in line with the triple lock.
Under the new rates, the full basic state pension is now paying £169.50 a week while the full new state pension is £203.85 a week.
Having to wait until 66 could prove challenging for people with mobility issues or declining health that need access to their State Pension to live comfortably.
Express.co.uk asked the DWP for a comment on the proposal to lower the age. A spokesperson said: “We want to ensure the state pension remains the foundation of income in retirement for future generations in a way that it is sustainable and fair.
“Thanks to our triple lock promise, the full rate of the new state pension is now over £11,500 a year.
“Our recent state pension age review concluded that a universal state pension age remained the best system, providing simplicity and clarity, enabling people to plan effectively for retirement.”
But we want to know what Express readers think of the idea of lowering the state pension age to 63 – and you can vote in our poll below to let us know how you feel.
This review came out in March 2023, reaffirming the plans to gradually increase the state pension age from 66 to 67 between 2026 and 2028.
There are also plans to increase it again from 67 to 68 between 2044 and 2046, but there will be another review of this within two years of the next Parliament.
State pension payments are going up 8.5 percent this month in line with the triple lock.
Under the new rates, the full basic state pension is now paying £169.50 a week while the full new state pension is £203.85 a week.
