Lytham St. Anne’s retirees will have to wait until they’re 66 to claim their state pension as the minimum age for retirement will be raised next week.
Nationally, about 700,000 workers hit their landmark state pension age every year – so this means hundreds of thousands will have to work an extra year before they can claim their pension.
The changes will apply to anyone born after 5th October 1954, who will from next week have to wait until they’re at least 66 before they can access their state-paid retirement fund.
This is the first rise that will affect men as well as women. The state pension age will be increased again to 67 in 2028 and to 68 from 2044, although there are plans to bring this forward to 2037.
At the moment, the state pension is £175.20 a week, or £134.25 a week for those who retired before April 2016.