What happens if you straddle pension age increase?

FIREDreamer

Logan72 said:

But whereas the state pension age increase from 66 to 67 happens gradually between April 2026 and April 2028, the rise in the NMPA will happen overnight on 6 April 2028.

Still shocking everytime I read it.

Marcon said:

You've now made five posts today on the same topic. It'll be the same answer each time, so maybe stick to one post?

Think he’s on a run.

Silvertabby

The last increase (50 to 55 in 2010) wasn't staggered, so there's zilch chance of this one being tapered.

barnstar2077

Silvertabby said:

The last increase (50 to 55 in 2010) wasn't staggered, so there's zilch chance of this one being tapered.

I had forgotten just how brutal that must have been for some people!

I really wished they could have increased these sorts of things a lot slower and earlier.  Better to know when you leave school and get a job that you will have to do an extra year than they just keep moving the goalposts.

FIREDreamer

barnstar2077 said:

Silvertabby said:

The last increase (50 to 55 in 2010) wasn't staggered, so there's zilch chance of this one being tapered.

I had forgotten just how brutal that must have been for some people!

I really wished they could have increased these sorts of things a lot slower and earlier.  Better to know when you leave school and get a job that you will have to do an extra year than they just keep moving the goalposts.

Arguably worse than brutal - I don’t think there was 10 years warning of this. The increase from 50 to 55 was announced as part of pensions simplification (ha!) of April 2006 so only 4 years notice (plus any time between simplification announcement and implementation I suppose).

Silvertabby

FIREDreamer said:

barnstar2077 said:

Silvertabby said:

The last increase (50 to 55 in 2010) wasn't staggered, so there's zilch chance of this one being tapered.

I had forgotten just how brutal that must have been for some people!

I really wished they could have increased these sorts of things a lot slower and earlier.  Better to know when you leave school and get a job that you will have to do an extra year than they just keep moving the goalposts.

Arguably worse than brutal - I don’t think there was 10 years warning of this. The increase from 50 to 55 was announced as part of pensions simplification (ha!) of April 2006 so only 4 years notice (plus any time between simplification announcement and implementation I suppose).

It was a real shock to some LGPS members, aged between 50 and 54 plus, who were made redundant in April 2010 onwards and who expected to receive their (unreduced) pensions immediately.  

af1963

Logan72 said:

But whereas the state pension age increase from 66 to 67 happens gradually between April 2026 and April 2028, the rise in the NMPA will happen overnight on 6 April 2028.

Still shocking everytime I read it.

Would you be happier if it was also phased in starting in April 2026 ? ( Or earlier, since state pension age has already gone up by one year.)

BlackKnightMonty

I wonder what the minimum will be when I look to retire…

eskbanker

BlackKnightMonty said:

I wonder what the minimum will be when I look to retire…

Not sure that this is the thread for yet more speculative doom-mongering!