Retirement Age – Born in 1966

Last updated on July 25th, 2017

What is my retirement age if I was born in 1966?

Whether you are a man or a woman, and born in 1966, then your retirement age is the same, as retirement ages were equalised first to age 65 and then upwards to age 68 and possibly further in future.

For those who were born in 1966, legislation has been passed that specifies your retirement age and this is unlikely now to change. You will be able to draw your State pension at the age of 67. Therefore you will be able to retire in 2033.

Others who were born later, i.e. in the 70s and beyond, will have their retirement age set at 68 and possibly later so already you will be retiring earlier than other people.

It is highly unlikely that your retirement age will be increased any further at this stage now that these changes have been announced. Therefore you can make concrete plans for this retirement age.

Retirement Age Increases

The reason for the increase in retirement ages is due to the increase in life expectancy. So even with a retirement age of 67 you are still statistically likely to spend the same average percentage of your adult working life (approximately 32%) receiving a state pension as someone who retired when they were 66 or who will retire when they are 68. This means in terms of finances a retirement age makes it fair and equitable among the population as to how much people receive when they retire.

If you want to find out how much state pension you can expect to receive when you retire then check out our page on how much state pension you can get.