{"id":1503,"date":"2025-04-16T11:39:50","date_gmt":"2025-04-16T11:39:50","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/knowledge\/management\/retirement-age-uk\/"},"modified":"2025-12-17T15:54:49","modified_gmt":"2025-12-17T15:54:49","slug":"retirement-age-uk","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/management\/retirement-age-uk\/","title":{"rendered":"State pension age increase: what\u2019s the retirement age in the UK?"},"content":{"rendered":"\n

The UK retirement age can refer to the age at which you can access the state pension and a free bus pass. But there\u2019s a different, lower age to keep in mind when accessing workplace or personal pensions.<\/p>\n\n\n\n

If you\u2019re self-employed, you might have workplace pensions if you\u2019ve been employed before.<\/p>\n\n\n\n

And as there\u2019s no pension auto-enrolment for the self-employed, you might instead be saving for retirement using a personal pension.<\/p>\n\n\n\n

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What is the UK state pension age?<\/h2>\n\n\n\n

The state pension age is currently 66 years old. But this is due to rise to 67 in 2026.<\/p>\n\n\n\n

The state pension age for both men and women will continue to rise to 68 between 2044 and 2046 for anyone born on or after 5 April 1977. However, the state pension age is still under review, which means it could change again in the future.<\/p>\n\n\n\n

Gov.uk has a state pension age calculator<\/a> that you can use to work out your state pension age. All you need to do is enter your date of birth and it will tell you when you start claiming.<\/p>\n\n\n\n

You don\u2019t have to stop working when you reach state pension age.<\/p>\n<\/div>\n\n\n\n

What is the retirement age in the UK?<\/h2>\n\n\n\n

The UK no longer has a default state retirement age. The law was changed in 2011 to stop employers forcing people to retire at 65. You can continue working for as long as you want (or need) to.<\/p>\n\n\n\n

Instead, there are pension ages, at which you can access a pension \u2013 including the state pension and other pensions you might have.<\/p>\n\n\n\n

The average retirement age in the UK is 65 years old for men, while women leave work at an average of 64 years old, according to government figures from 2021.<\/p>\n\n\n\n

What is the retirement age for women?<\/h3>\n\n\n\n

It used to be that the retirement age for women, at which they could get the state pension, was 60.<\/p>\n\n\n\n

It\u2019s currently set at 66 for women, but is set to gradually increase from May 2026.<\/p>\n\n\n\n

What is the retirement age for men?<\/h3>\n\n\n\n
\n<\/div>\n\n\n\n

The men\u2019s retirement age in the UK, when they could start claiming a state pension, used to be 65.<\/p>\n\n\n\n

It\u2019s currently set at 66 for men, but is set to rise to 67 for anyone born on or after 5 April 1960.<\/p>\n\n\n\n

How much is the state pension?<\/h2>\n\n\n\n

How much state pension you get will depend on which pension you receive. If you reach the state pension age after April 2016, you’ll receive the state state pension.<\/p>\n\n\n\n

Meanwhile, the basic state pension is for those who reached state pension age before 2016.<\/p>\n\n\n\n

Additionally, whether or not you get the full amount will depend on the number of years you\u2019ve made National Insurance contributions. If you\u2019ve paid National Insurance for anything less than 35 years, you might not receive the full state pension.<\/p>\n\n\n\n

Tax year<\/strong><\/td>State pension<\/strong><\/td>Basic state pension<\/strong><\/td><\/tr>
2025-26<\/strong><\/td>\u00a3230.25 a week<\/td>\u00a3176.45 a week<\/td><\/tr>
2026-27<\/strong><\/td>\u00a3241.30 a week<\/td>\u00a3184.90 a week<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

One thing to note is that the increase of the state pension from April 2026 brings the annual total to \u00a312,548. This means that it could be the last year that it falls within the personal allowance<\/a> threshold of \u00a312,570 \u2013 meaning that, in the future, state pensions could be subject to income tax.<\/p>\n\n\n\n

Triple lock pensions<\/h3>\n\n\n\n

The state pension amount usually increases every year. It can increase by either 2.5 per cent, inflation, or earnings growth \u2013 depending on which is the highest figure.<\/p>\n\n\n\n

This is known as the \u2018triple lock\u2019. Introduced in 2010, the triple lock is designed to make sure that the value of the state pension doesn\u2019t decrease in real terms.<\/p>\n\n\n\n

The 2025 Autumn Budget revealed that the basic and new state pension will both increase by 4.8 per cent from April 2026.<\/p>\n\n\n\n

Personal and workplace pensions<\/h3>\n\n\n\n

Under \u2018pension freedom\u2019 rules introduced by the government in 2015, you have more flexibility about how you access \u2018defined contribution\u2019 pensions when you reach 55 (increasing to 57 in 2028). This age is when you can access your personal pensions without getting an unauthorised payment tax charge.<\/p>\n\n\n\n

Most modern workplace and personal pensions are defined contribution schemes, with the pension\u2019s value determined by the money contributed, as well as investment performance over time.<\/p>\n\n\n\n

When you reach this age, you can take 25 per cent of your pension tax-free, either as a lump sum or in separate smaller amounts. Then you can use the rest as you like \u2013 either by making more withdrawals (and paying income tax) or by buying an annuity.<\/p>\n\n\n\n

An annuity is a product that gives you a guaranteed income for the rest of your life, depending on the size of your pension as well as other factors (like your age and health).<\/p>\n\n\n\n

These pension freedom rules mean that it\u2019s possible to access your pension while you\u2019re still working.<\/p>\n\n\n\n

When can I retire?<\/h2>\n\n\n\n

The retirement ages above are when you can access pensions \u2013 but if you want to \u2018retire\u2019, or simply stop working, there\u2019s no set age.<\/p>\n\n\n\n

For many people though, retiring means being able to stop working while still being financially secure, and a pension gives you that security.<\/p>\n\n\n\n

It\u2019s important that self-employed people think about when they\u2019d like to retire. Having a particular age in mind is one of the first steps in retirement planning. That\u2019s because if you\u2019re 40 and you know you\u2019d like to retire at 60, you can figure out how much to save for retirement.<\/p>\n\n\n\n

The earlier you start saving the better, as you won\u2019t need to contribute as much into your pension each month if you start earlier.<\/p>\n\n\n\n

It\u2019s worth taking professional retirement advice to help you understand your options.<\/p>\n\n\n\n

\"Retired<\/figure>\n\n\n\n

chika_milan\/stock.adobe.com<\/em><\/p>\n\n\n\n

Retirement options for self-employed people<\/h2>\n\n\n\n

While some company owners may be able to sell their business<\/a> to help fund retirement (this needs a detailed exit strategy), many self-employed people are<\/strong> their business. So, when they retire, the business likely won\u2019t have much value.<\/p>\n\n\n\n

It\u2019s therefore important to use a pension, although self-employed people often find it difficult to save. According to the Institute of Fiscal Studies (IFS), only 20 per cent of self-employed people are saving into a private pension.<\/p>\n\n\n\n

But paying into a pension gives you generous tax relief on your contributions. If you\u2019re a basic-rate taxpayer, you can claim tax relief at the basic 20 per cent rate.<\/p>\n\n\n\n

The government has made pension planning more of a priority in recent years. Here are some websites you can use to get free pension guidance:<\/p>\n\n\n\n