22 December 2017
News release
Retirement age stays the same, accrual rate down
Average life expectancy has increased in recent years. People therefore receive the state pension and pension scheme benefits for a longer period of time. To limit the effect of this, the government previously decided to increase the state pension age and the target retirement age for future pension accrual in stages. This doesn't affect the value of the accrued pension benefits.
In 2015 the target retirement age for future pension accrual was statutorily increased from 65 years to 67 years. Owing to the increase in life expectancy, this target retirement age will be further increased to 68 ye...