state pension age

Can you retire early and not rely on state pension?

The state pension age should rise to 75 over the next 16 years, according to a new report by the influential think tank Centre for Social Justice.

While the government already has plans to increase the state pension age from 65, the new suggested state pension age is much more radical, rising to 70 by 2028 and 75 by 2035.

Editor's Comment: new twist in women's battle over state pension age hikes

If you’re in your early 60s and looking forward to retirement, the past couple of months have hardly been a time for celebration of the approach of your golden years – indeed, quite the opposite. On 6 November 2018, the state pension age (SPA) for men and women was briefly equalised as women’s SPA rose to 65. It’s the latest hike in a series of adjustments that started in 2010 and were accelerated in 2011, designed to bring men and women into line in state pension terms.

Controversial call for state pension to be means-tested

The International Monetary Fund (IMF) has called on the UK government to consider means-testing the state pension.

Such a move, it is claimed, would make the system fairer and more affordable, with the IMF noting that means-testing would ‘improve sustainability’ and ‘safeguard the most vulnerable’.