Copy article

What should workers in their early 50s do now to help see them through if the state pension rises to 68?

Journalist: Jon King, Daily Express Online

ended 30. July 2025

Rathbones has warned that millions of workers in their 50s face losing up to £18,000 if the Government brings forward a rise in the state pension age.

The wealth manager has said introducing a state retirement age of 68 earlier than planned threatened to hit people aged 51 the hardest, while people aged 52 and 53 would also lose out.

According to Rathbones' research, people aged 51 would lose an entire year’s worth of state pension payments if the timetable is brought forward. This would be worth £17,774, assuming today’s state pension of £12,000 increases by the so-called triple lock each year. People aged 52 would miss out on £17,340 and those aged 53 would lose £16,918.

The Daily Express is looking for practical advice for readers under such a scenario. What would you recommend workers aged 51, 52 and 53 do to help see them through to 68?

8 responses from the Newspage community

Copy all

Copy

Editor
Scott Gallacher
Director at Rowley Turton
The £18,000 figure makes headlines but risks scaring people unnecessarily. The actual shortfall for someone losing one year of State Pension is around £12,000 in today’s money — and with 15 years to plan, that’s just £800 a year or £66 a month. Most people can close that gap with a bit of planning, not panic.

Start by reviewing your overall finances — many in their early 50s may already be on track to retire at 67, state pension or not. Then check your spending: £66 a month could be saved by cancelling unused subscriptions or shopping smarter. Finally, review your pensions and savings — can you boost returns, cut charges, or slightly increase contributions?

Yes, earlier State Pension changes are frustrating. But this is manageable — especially if you start now.
Copy

Editor
Riz Malik
Independent Financial Adviser at R3 Wealth
With the UK's public finances under pressure, there's no guarantee the state pension will look the same by the time today's 50 somethings retire. It should be seen as the cherry on the cake, not the cake itself. It is never too late to take action when it comes to your retirement planning. Those in employment should check they are making the most of any workplace pension benefits on offer, while the self employed must stop delaying and start planning now.
Copy

Editor
Rob Mansfield
Independent Financial Advisor at Rootes Wealth Management
The first thing you need to figure out is how long can you work for? For some physical jobs, it may not be possible to work until state pension age. Once you've worked out an age, you can work backwards and assess how can you afford to fill the gap. It puts the pressure on pension pots when most people haven't saved enough. The government could help by increasing the amount of state pension people can get at 68 as you may well have been contributing for 50 years but only receive the maximum benefit of 35 years.
Copy

Editor
Anita Wright
Chartered Financial Planner at Ribble Wealth Management
A one-year delay to state pension access can create a significant income gap in retirement. To offset this, individuals should plan early by increasing pension contributions, making use of ISAs, and considering long-term investments.

Those in thier 50s should also review their overall financial position, looking at cash savings, investments, and any outstanding debts or mortgages.
Planning for retirement is not simply about numbers. Longevity, inflation, and market volatility all pose challenges that can erode income over time.

The state pension is only intended to provide a basic safety net, not a comfortable retirement. Ultimately, preparing for later life is a personal responsibility. Relying solely on the state pension is increasingly unrealistic, particularly as the ratio of workers to retirees continues to shrink. Taking action now, rather than waiting for policy changes to take effect, is the most effective way to ensure financial security in retirement.
Copy

Editor
Samuel Mather-Holgate
Managing Director & IFA at Mather and Murray Financial
Brace yourselves, the state pension age is going up, probably to 70, and the triple lock is going too. This will get Rachel Reeves some serious head room back. To ensure you’re in the best position make sure you’re a member of your workplace pension schemes. Some people opt out, but that’s crazy. It’s like free money. It comes from your pre tax salary and your employer often matches your contributions. If you can, contribute the maximum that your employer will match. Then, speak to an adviser about what to do with your old pension and whether to add more to them, they will complete a cash flow forecast to give you a clear idea about what you need, and what you’ve got.
Copy

Premium
David Belle
Founder and Trader at Fink Money
I make no bones about this.

They should be invested in high beta large cap US stocks… if their goal is to make enough for the rest of their retirement.

There is no other alternative to this.

We can tinker around the edges and pretend that we can make safe low returns that will do absolutely nothing to change anything for their situation,.

We can pretend that claiming some form of pensioner benefits will help.

But we all know that’s generic nonsense advice.

If they actually want to weather the storm, they need to take the risks they perhaps should have taken 20 years ago.

Of course, most won’t want to do this, which is the sad truth as to why our investing culture is so bad.

They should be planning to maximise returns now.

Did you know that buying the sp500 at all time highs provides a greater return than going to cash the month before the high is hit?

Risk is a dirty word in the uk — the other side of risk is opportunity.
Copy

Benjamin Mitchell
Director at Headsup Wealth
These proposals reinforce that that the goalposts can move, and thus you need to take ownership of your own retirement planning.

Workers in this age bracket should strongly consider alternative savings and investment vehicles such as ISAs and pensions to build up sufficient personal wealth to tide them over until state pension age.

The state pension is not to be sniffed at, and forms a crucial, guaranteed element of a retiree's income, but equally individuals must take ownership to use tax-efficient wrappers such as ISAs and pensions to accumulate a sufficient level of wealth in their own name to bridge the gap.

Private and workplace pensions can make for excellent tools in retirement, with tax relief being added to help boost the pot. Private pensions can generally be accessed at 55 and ISAs can be drawn upon at any age, meaning these vehicles can help bridge the gap until your state pension kicks in. With these proposals, it's now more important than ever that you plan ahead.
Copy

Colin Low
Managing Director at Kingsfleet
It's important for workers to always remeber that Pensions are not a form of tax, but rather they are deferred salary. So often, I hear people saying they begrudge their pension payments, yet if they saw them as deferring thei earnings for a later stage in life, they may consider them to be of greater value.

It's also helpful if individuals work out how many more 'paydays' they are likely to receive before their planned retirement date and that they need to use these to fund the likely 20-30 years of existence after their retirement age. The one positive of having a later state retirement age is that you may well have longer to be able to put money aside!