Section 26: Increase in pensionable age to 67
122.Part 1 of Schedule 4 to the PA 1995 stipulates pensionable age for men and women. As amended by the PA 2007 this provides for the increase in pensionable age to 67 to take place between 6 April 2034 and 5 April 2036. This section amends these rules to bring forward the increase in pensionable age to 67 to take place between 6 April 2026 and 5 March 2028.
123.Under the timetable set by the PA 2011, those born on or after 6 October 1954 but before 6 April 1968 will reach pensionable age on their 66th birthday. Under the revised timetable set by this section, those born between 6 April 1960 and 5 March 1961 will have a pensionable age of between 66 years and 1 month and 66 years and 11 months. Those born on or after 6 March 1961 but before 6 April 1977 will reach pensionable age on their 67th birthday.
124.The table in section 26(3) sets out how pensionable age will increase from 66 to 67. Individuals in each one month birth cohort affected by the transitional arrangements will reach pensionable age when they reach age 66 and the specified number of months. For example:
an individual born on 15 April 1960 reaches pensionable age when they reach age 66 and one month on 15 May 2026;
an individual born on 10 September 1960 reaches pensionable age when they reach age 66 and 6 months on 10 March 2027; and
an individual born on 22 January 1961 reaches pensionable age when they reach age 66 and 10 months on 22 November 2027.
125.There are three instances during the transition period where an individual may be born in a calendar month which has more days than the relevant month in which he or she would reach pensionable age. Section 26(3) provides when those individuals will reach pensionable age. For example an individual born on 31 July 1960 cannot reach pensionable age of 66 and 4 months on 31 November 2026 because November only has 30 days. He or she will therefore be treated as reaching pensionable age on 30 November 2026.
