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The SPA is currently between sixty years and three months and sixty years and four months for a lady and sixty-five years for men. From 2010, the SPA for women will be gradually increased to bring it up to the age of men. This is increased by 1 month for every two months the woman is born after April 1950. This does not apply to women born before April 1950. Women born after April 1955 would have an SPA of sixty-five. Women who calve between April 1950 and 1955 have a retirement age of 60 to 65 years.

As a result of the Pensions Act 07, the SPA will be increased from sixty-five to sixty-eight over a period of twenty-two years. The authorities have announced they will introduce legislation to accelerate the raising of the state pension age, to ensure that women and men will be sixty-six by April 2020. When applying for the pension, you can be granted a postponement of payment. Deferring payments in this way represents a one percent improvement for every five weeks that the pension plan is not claimed. The lump sum payment is the unsolicited amount, as well as two percent interest above the Bank of England's standard rate. for more information click here