UK state pension age begins rise to 67 with payment boost
The UK state pension age has begun a phased increase from 66 to 67, starting with people born in the early 1960s, alongside a 4.8% payment rise under the triple lock. The change, expected to save £10bn annually by 2030, has drawn concern from charities about its impact on lower-income and less healthy regions. Political pledges to maintain the costly triple lock persist despite warnings about the system’s long-term sustainability.
Pension age rise begins with phased rollout
From Monday, the UK state pension age will gradually rise from 66 to 67 over two years, beginning with those reaching pension age this month who must wait an extra month for payments. The change aims to reflect longer life expectancy and is expected to save the Treasury about £10bn annually by 2030. Critics warn it will disproportionately affect poorer and less healthy regions, where healthy life expectancy is far shorter than in affluent areas. BBC
Triple lock boosts payments despite fiscal strain
Pension payments will rise 4.8% in April due to average wage growth, increasing the new flat-rate pension to £241.30 per week and the old basic pension to £184.90. Reform UK leader Nigel Farage has pledged to keep the triple lock if elected, despite its projected annual cost increase of £15.5bn by 2030. The policy remains popular with older voters, who form a decisive voting bloc in most constituencies
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