Could the UK State Pension Age Rise Sooner Than Planned? What You Need to Know

July 2025

By Will Glyn

The government has launched a fresh review of the state pension age—which could mean it rises to 68 earlier than originally scheduled.

Currently, the state pension age is 66 for both men and women, with a gradual increase to 67 between 2026 and 2028 already in motion. A further rise to 68 is currently pencilled in for 2046, but this new review may bring that timeline forward—potentially impacting millions of future retirees.

This is the third official review of the state pension age, and it will assess whether the current rules still make sense in light of updated life expectancy data, demographic trends, and economic pressures. Although the government isn’t obliged to adopt any recommendations, the growing cost of state pensions makes reform increasingly likely.

Why This Matters

The state pension is one of the government’s largest financial commitments, accounting for over £140 billion a year—more than 80% of total pensioner welfare spending. Without reform, pension costs are projected to rise from 5.2% of GDP today to nearly 8% over the next 50 years.

A previous review in 2023 recommended moving the increase to age 68 forward to between 2041 and 2043, but the government at the time did not commit to this timeline. The newly elected Labour government may now revisit the issue as part of efforts to demonstrate long-term fiscal responsibility.

What Will the Review Consider?

The review will focus on several key areas:
• Linking state pension age to life expectancy
• Intergenerational fairness
• Ensuring the long-term sustainability of the state pension system

With an ageing population and a shrinking base of working-age taxpayers, the financial burden on the state continues to grow. While future economic growth could help offset the cost, it’s clear that changes to the system are on the horizon.

One possible outcome is a faster increase to age 68, which would affect people born in the early 1970s—meaning they may need to draw more from private savings to maintain their retirement plans.

Could the Triple Lock Be Reformed?

The triple lock—which guarantees that the state pension increases each year by the highest of inflation, wage growth or 2.5%—has become politically sensitive. Labour has committed to maintaining the triple lock during this parliament, but if the pension age rises sooner, that could create room for reform of the triple lock in future.

While raising the state pension age is a powerful lever for controlling costs, it’s not the only option. Reforming the triple lock could also help make the system more sustainable without placing the entire burden on individuals nearing retirement.

What Should You Do If the Pension Age Changes?

If the state pension age is brought forward to the mid-2030s, those affected will need to adjust their retirement plans accordingly. Past experience has shown that clear communication and long notice periods are vital, especially given the backlash from previous changes.

For many, this will mean ensuring they have sufficient private savings to bridge the gap if they still want to retire before the new state pension age. The state pension is currently worth nearly £12,000 per year, so even a one- or two-year delay could mean finding an extra £20,000–£30,000 from your own resources.

While some may be able to work longer, reduce spending, or downsize their home, the most effective way to maintain control is to build a strong private pension.

Planning for the Future

The normal minimum pension age—the earliest age at which you can access private pensions—is also due to rise from 55 to 57, and could be adjusted again in future to keep it within 10 years of the state pension age.

If you want to give yourself the option of retiring earlier than the state pension age, the key is planning ahead:
• Increase contributions while you can, and take full advantage of employer matching and tax relief
• Consolidate your pensions to reduce fees and simplify planning
• Review your retirement goals regularly and adjust your savings accordingly

Final Thoughts

While these changes may not affect those retiring in the next few years, they are a clear reminder that relying solely on the state pension is risky. A well-structured private pension offers you flexibility, financial independence, and the ability to retire on your own terms—whatever the government decides.

If you’re unsure how this may affect your retirement plans or want advice on building a more resilient financial future, we’re here to help.

Speak with a Proctor Wealth adviser today to explore your options and take control of your retirement. Reaching the state pension age doesn’t have to be your finish line—we’ve helped many clients achieve financial independence well before then.

Will is an Independent Financial Adviser with over a decade of experience helping expats make the most of their international status.