Maxwell Stephens

The State Pension: Will I Still Be Working At 70?

Two recent government reports have outlined the possibility of raising the age of eligibility for the state pension. In basic terms, that means millions of people may have to work for longer before they have a hope of retiring if they are reliant on a state pension. Analysis by the Department for Work and Pensions (DWP) has indicated that those under the age of 30 may have to wait until they are 70 to receive their pension.


We should expect to receive more information on this from the government towards the middle of this year. The pressure on pensions has been rising over recent years as people are living longer and the ratio of pensioners to workers has increased to unsustainable levels. Changes are not expected imminently but the current timetable indicates that the increase from age 68 to 69 will happen in 2047. 2047 seems like some way off, but for those of us in our early thirties, this will impact upon us and must be considered as an important impact.


What can you do to retire early?


Perhaps you would like to retire in line with the current state pension age, or even sooner! There are things that you can do to try and make that dream a reality – which is the real focus of this article. These are the top things you should be considering:


  • Make plans early on to not be reliant on the state pension. This means organising a personal pension or ensuring you have a suitable pension from your employer.
  • Make other types of investments such as savings and property.
  • Most importantly, the earlier on in your life that you start with pensions, investments, and savings, the more you will have to rely upon (in theory) in later life. Start young and save enthusiastically.
  • Plan very carefully for retirement to ensure you will have enough income to support the type of lifestyle you would like to enjoy.
  • Consider working part time before giving up work completely. This can help ease you into retirement whilst also increasing the funds you have in your pot.

In Summary


The news of the state pension age increasing will be unwelcome to most, but not entirely unexpected. People living longer and the ageing population in general have caused an unsustainable situation that the government must find a way to tackle. For most reading this, I suspect that work pensions will be relied on first and foremost. However, it remains a good a time as any to review your own pension situation and to plan for the future.


Maxwell Stephens is the leading facilities management recruitment agency in the UK, serving clients and candidates successfully since 2006. If you’re looking for a new role, or you have a vacancy you need filling with the very best talent, please call us on 0207 118 48 48 or email


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