Retirement Age – Born in 1965

What is my retirement age if I was born in 1965?

If this question applies to you then it does not make any difference if you are male or female, your retirement age is the same, following the equalisation of retirement ages in recent years.

Originally if you were a man your retirement age would have been 65 and for a woman it would have been 60 but currently (in 2017) your retirement age – at least the age at which you can draw your state pension, is 67. So anyone who was born in 1965 will currently be able to retire in 2032.

Of course you do not have to draw your pension at this age, you can leave it for a later date if you wish. If you do you will be given an increased pension.

Now that the government has responded to the Cridland report by increasing retirement ages to 68 for those born in the 70s, it looks extremely unlikely that your retirement age will be increased any further than 67.

How Much Pension Will I Get?

If you want to find out how much pension that you could expect to get when you retire then check out our page on finding out about your state pension. It is worth checking out how much you may be able to get so that you can ensure that you have paid enough National Insurance (or at least as much as you are able to) to build up the best possible pension, as well as being able to plan to make up any shortfall you may have by making contributions to private pension schemes.

Checking your state pension entitlement will also give you a statement of NI contributions and if it is possible to make any further back payments that you may have missed.

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Retirement Age for Women Born in 1965

State Pension Ages have undergone a lot of changes in recent years and that is likely to continue for the foreseeable future as we live longer and so the payment of state pensions for a longer period becomes unsustainable. Also as more people are working longer (and are willing and able to do so) this means many are deferring their retirement until later.

State pensions are funded on a pay as you go basis – in that the current working population pays for the pensions of the current pensioners. So in order to keep the balance of those working being able to fund those who are retired, pension age naturally needs to in crease as the number of retired people increases.

So, for women who were born in 1965, they are part of the new generation of retirees who will not be able to claim their state pension benefits until they are 67. And in fact there is the possibility that this may be even higher by the time they retire. There is constant monitoring of state pension ages, life expectancy and numbers of people in the workforce to ensure that the state pension is at a sustainable level for the nation.

If you were born in 1965, whether you are a woman or a man then currently you can claim your state pension at age 67. As the minimum age for claiming a personal pension is likely to be 10 years earlier than your state pension age then it is possible that this will increase from the current age of 55 to 57 by that time.

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