When can I claim my State Pension? In November 2018, State Pension age was 65 for men and women.
Women's State Pension age
It changed to 65 for women between 2010 and 2018. It is now increasing in stages, alongside men, until it has reached 68. It's important to check when you are due to reach your State Pension age as this might change in the future. A State Pension forecast will also tell you this.
Under the Pensions Act 2011, women's State Pension age will increase more quickly to 65 between April 2016 and November 2018. From December 2018 the State Pension age for both men and women will start to increase to reach 66 by October 2020.
Many married women are entitled to a basic state pension at 60 per cent of the full rate because of their husband's record of National Insurance (NI) Contributions in circumstances where their own record of NI Contributions would provide a lower pension.
There are no longer any special state pension arrangements for married couples. Each partner in the marriage or civil partnership needs to build up their own state pension through qualifying years, and cannot benefit from their spouse's state pension (which will cease when that person dies).
For men and women, you can access your state pension from age 66. The state pension age is scheduled to rise to 67 between 2026 and 2028. However, you can access your private or workplace pension when you reach age 55.
Although you can retire at any age, you can only claim your State Pension when you reach State Pension age. For workplace or personal pensions, you need to check with each scheme provider the earliest age you can claim pension benefits.
If you were born between 1956 your full retirement age is 66 and 4 months (En español) You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
Full Retirement Age for Survivors Born In 1961: 66 and 10 Months (En español)
If you were born between 1958 your full retirement age is 66 and 8 months (En español) You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
The law raised the full retirement age beginning with people born in 1938 or later. The retirement age gradually increases by a few months for every birth year, until it reaches 67 for people born in 1960 and later.
The Pensions Act 2014 increased the pace at which the state pension age was to rise from 66 to 67. People born between April 6 and May 5, 1960 will retire at 66 years and 1 month. The retirement age will then rise gradually, with people born between March 6, 1961 and April 5, 1977 retiring on their 67th birthday.
If you were born between 1960 your full retirement age is 67 (En español)
You will not get your State Pension automatically - you have to claim it. You should get a letter no later than 2 months before you reach State Pension age, telling you what to do. If you have not received an invitation letter, but you are within 4 months of reaching your State Pension age you can still make a claim.
A single person born in 1960 who has averaged a $50,000 salary, for example, would get $1,349 a month by retiring at 62 — the earliest to start collecting. The same person would get $1,927 by waiting until age 67, full retirement age.
If you were born between 1956 your full retirement age is 66 and 4 months (En español) If you start receiving benefits at age 66 and 4 months you get 100% of your monthly benefit. If you delay receiving retirement benefits until after your full retirement age, your monthly benefit continues to increase.
If you were born between 1955 your full retirement age is 66 and 2 months (En español)
No, if you intend to retire on age grounds taking your pension at your normal pension age then the LDOS would be the day before your birthday and the benefits would be payable from your birthday.
In the UK, everyone over the age of 60 gets free prescriptions and NHS eye tests. You can also get free NHS dental treatment if you're over 60 and claiming pension guarantee credits or other benefits if you're under state pension age.
Taking money out of your pension is known as a drawdown. 25% of your pension pot can be withdrawn tax-free, but you'll need to pay income tax on the rest. You can choose whether to withdraw the full tax-free part in one go or over time.
Your State Pension is based on your National Insurance contribution history and is separate from any of your private pensions. Any money in, or taken from, your pension pot may affect your entitlement to some benefits.
To receive the standard Winter Fuel Payment and this year's Pensioner Cost of Living Payment, you must be over State Pension age (aged 66 or above) between 19 and 25 September 2022.
The State Pension is a regular payment from the government most people can claim when they reach State Pension age. Not everyone gets the same amount.
When you reach your State Pension age, you don't have to claim your State Pension straight away. You can delay claiming it. If you do delay or stop claiming it, when you do start to take it – you might get extra money.
Probably the biggest indicator that it's really ok to retire early is that your debts are paid off, or they're very close to it. Debt-free living, financial freedom, or whichever way you choose to refer it, means you've fulfilled all or most of your obligations, and you'll be under much less strain in the years ahead.