Calls for some people to get Pension payments ‘immediately’ | Personal Finance | Finance

A new online petition is urging the Government to allow early access to the State Pension for older individuals on disability benefits. Currently, the State Pension age is set at 66 for both men and women, with a planned increase to 67 between 2026 and 2028.

George Bolgar, the creator of the petition, suggests that anyone over 60 with a disability “who has been unemployed for at least five years should be given the choice to retire and claim the State Pension immediately”.

Should the petition hit 10,000 signatures, it will prompt a formal reply from the Government, and at 100,000 signatures, it could trigger a debate in Parliament by the Petitions Committee.

The petition’s statement reads: “We think that any disabled person aged 60 who has been unemployed for at least five years should be given the choice to retire and claim the State Pension immediately.”

The petition argues that keeping this group of people on the Department for Work and Pensions (DWP) unemployment register, when they are unlikely to find employment again, creates unnecessary work for the DWP and undue stress for the disabled person.

It also states: “We think that once someone is above 60 years old and unemployed their likelihood of being employable is extremely reduced.”

You can read the petition in full here.

State Pension age increase

The State Pension age iis due to rise from 66 to 67 starting next year, with the hike expected to be fully implemented for all men and women nationwide by 2028. This adjustment to the official retirement age has been on the books since 2014, with a further increase from 67 to 68 scheduled to occur between 2044 and 2046.

The Pensions Act 2014 fast-tracked the rise in the State Pension age from 66 to 67 by eight years. The UK Government also modified the phasing of the State Pension age increase, meaning that instead of reaching State Pension age on a specific date, individuals born between March 6, 1961, and April 5, 1977, will be eligible to claim the State Pension once they turn 67.

It’s vital to be aware of these upcoming changes now, especially if you have a retirement plan in place. All those affected by changes to their State Pension age will receive a letter from the DWP well in advance.

Under the Pensions Act 2007, the State Pension age for both men and women will increase from 67 to 68 between 2044 and 2046.

The Pensions Act 2014 requires a regular review of the State Pension age, at least once every five years. This review will be based on the principle that individuals should be able to spend a certain proportion of their adult life receiving a State Pension.

A reassessment of the proposed rise in the State Pension age to 68, initially planned by the former Conservative government for two years after the general election – which would have been 2026, is set to occur before this decade concludes.

The review will take into account life expectancy and other pertinent factors when determining the State Pension age. Following the report from the review, the UK Government may choose to make alterations to the State Pension age.

However, any suggested changes must be approved by Parliament before they can become law.

Your State Pension age is the earliest age at which you can start receiving your State Pension, which may not be the same as the age at which you can access a workplace or personal pension.

The online tool available on GOV.UK enables individuals of all ages to verify their State Pension age, a crucial step in planning for retirement.