State pension alert over DWP rule change many don’t think is happening | Personal Finance | Finance
Major changes to the state pension are underway but some people don’t even believe they are happening. Now is a good time to check how the rules apply to you as payments have increased.
With the April 2026 increase under the triple lock, payments for the state pension have increased 4.8 percent. The full new state pension now pays £241.30 a week after the pay increase.
Yet another important change is coming in from April 2026, as the age when you can access your state pension is increasing. The state pension age is moving up in stages from 66 to reach 67 by April 2028.
Experts fear some people may not realise the rules change impacts them. In fact, a survey by the Standard Life Centre for the Future of Retirement found that 13 percent of people aged 60 to 65 don’t believe the access age is moving up from 66 to 67.
Another 10 percent said they didn’t know if this was the case. Hannah Martin, pensions expert and founder of Rich Retiree, said there are huge risks in not knowing when you will be able to access your state pension.
Struggling financially
She said: “These people may have budgeted around receiving the state pension at 66, and will struggle with an unexpected year to find income for. Already, reports are showing that more people are going without essentials as a result, with women disproportionately affected.”
She said it could come as a nasty shock to people who are hoping their savings will get them through until their state pension. Ms Martin warned: “It will also impact people who are planning a ‘pension bridge’ of ISAs, savings and other investments that will enable them to retire before they reach state pension age.
“If they are unaware of the increase in age, they could find their budgeting leaving them a year short.” If you were hoping to start claiming the full new state pension to help cover your bills but end up having to wait another year, you would have to find an extra £12,547.60 to make up the shortfall, at the current rate.
Check your state pension
It’s worth checking what your state pension entitlement is, as the system can be complex. You usually need 35 years of National Insurance contributions to get the full new state pension.
You can check how much you are on track to get using the state pension forecast tool on the Government website. One way you may be able to increase your entitlement is by voluntarily buying National Insurance contributions.
People can buy contributions up to six tax years ago. More information is available on the gov.uk website.
