UK pension age rises to 57 as life expectancy climbs and birth rates plummet

The age for accessing workplace and private pensions in the UK will rise from 55 to 57 in April 2028. Meanwhile, the state pension age is already set to increase from 66 to 67 by the same year. These changes come as life expectancy grows and birth rates fall, putting pressure on the pension system.

Over the past 50 years, average life expectancy in Britain has climbed from around 72 to 81. Men now live to about 78 on average, while women reach 84. This shift has led to gradual increases in the state pension age, moving from 65 to 66 between 2024 and 2026, then to 67 by 2028. The next planned rise, to 68, will take place between 2044 and 2046 for those born after April 1977.

Fertility rates have also dropped sharply. The UK's Total Fertility Rate hit a record low of 1.41 in 2024, well below the 2.1 needed to maintain a stable population. Childlessness among women has risen from 5% in 1970 to around 30% today. If birth rates keep falling, projections suggest the state pension age could reach 75 by 2093 to keep the system balanced. Experts warn that raising the pension age without extra support could push more people into poverty before retirement. By 2093, there may only be two working-age adults for every pensioner, meaning younger generations might need to work into their 70s. The government reviews the state pension age every six years to adjust for these long-term challenges.

The upcoming changes will see private pension access delayed until 57, while the state pension age climbs to 67 by 2028. With life expectancy rising and birth rates falling, further increases are likely. Without policy adjustments, future workers may face longer careers and financial strain in later life.