State Pension Age Stays Put – For Now!
The government has decided to stick with the current State Pension age (SPa) timetable, following a review backed by reports from the Government Actuary.
Current Pension Age Plans
- SPa will rise from 66 to 67 between April 2026 and April 2028
- SPa will climb from 67 to 68 between April 2044 and April 2046
The government’s Technical Bulletin breaks down the latest findings and recommendations.
Life Expectancy: A Moving Target
The Government Actuary’s report highlights huge uncertainty around future life expectancy trends and their impact on the pension age.
Various scenarios were modelled, looking at how long people spend in retirement and different life expectancy projections. Factors like starting age of work and updated mortality tables were also considered.
Crucially, small changes in these assumptions can cause big shifts in pension age timetables.
Recent slowing gains in life expectancy, plus the unpredictable fallout from COVID-19, mean guessing future trends is tougher than ever.
Sustainability and Fairness Under the Microscope
Baroness Neville-Rolfe’s report added another layer, focusing on sustainability, affordability, and fairness across generations.
She recommended:
- People should expect to spend up to 31% of their adult life in retirement on average
- The government should cap State Pension spending at 6% of Gross Domestic Product (GDP)
If these metrics guide policy, the SPa would reach 68 earlier, between 2041 and 2043.
Government Response: No Hasty Moves
Officials welcomed the expert reports but stressed the long-term uncertainty around life expectancy, labour markets, and public finances.
For now, the government will keep the current law unchanged and wait until the next review – expected within two years after the next Parliament – before considering any tweaks.
