In some areas of the UK, the average number of years people spend in good health is just 53, yet the State Pension Age is now 66 and rising to 67. It’s a tough reality that many people know all too well. Health doesn’t always keep pace with rising retirement ages. And with the government planning to increase the state pension age again in the coming years, it’s never been more important to plan ahead especially for those in their 50s or early 60s.

A recent report from the Centre for Ageing Better summed it up clearly: “The current one-size-fits-all approach to the State Pension Age is increasingly unfit for purpose.”

If you’re starting to think seriously about retirement, let’s break down what you need to do now to stay financially prepared.

Know When You Can Access Your State Pension

Right now, the UK state pension age is 66. It’s set to rise to 67 between 2026 and 2028, and future increases to 68 are already being discussed. For many people from Harlow in their 50s, this means waiting longer than expected to claim their pension.

If you’re wondering “when can I claim my state pension?”, use the pension age eligibility calculator on the government’s website. It’ll show you exactly when you’ll reach State Pension Age (SPA), your pension qualifying age and eligibility for free bus travel. This is your first step to understanding how these changes affect your retirement timeline.

Check What You’re Likely to Receive

The full new state pension is currently £230.25 a week (2024/25 rates), but not everyone gets the full amount. It depends on how many qualifying years of National Insurance contributions you have which is usually 35 years for the full amount.

You can find out what you’re on track to receive using the State Pension Forecast tool. It’ll also tell you if you have any gaps in your NI record, which you may still be able to fill before 2025.

It’s a simple action that can make a big difference to your income later on and it’s often overlooked.

Review and Boost Your Pension Savings

If the state pension is only part of the picture, where will the rest come from?

That’s where personal pensions come in. Whether through a workplace pension or your own SIPP (Self-Invested Personal Pension), adding to your savings now can make a real impact later.

Many over – 50s ask “how to increase pension savings?” when retirement is just a few years away. The answer? Start small if you need to, but be consistent. A pay rise, cleared debt or reduced childcare costs can free up extra funds to invest in your future.

Even if retirement is 5 – 10 years away, it’s not too late. You can create ISA’s at any age and save some tax, invest in shares or mutual funds and boost your income.  Work out your retirement income and re-model how much your current contributions should grow and where you might want to top up.

Factor in Your Health and Life Expectancy

It’s not always comfortable to talk about, but planning for retirement should be realistic. Many people won’t be in perfect health at 66 or 67 and that can affect how long you want or need to work.

The earlier you prepare financially, the more options you give yourself. That might mean:

• Stepping back from full-time work earlier
• Budgeting for care or medical costs later in life
• Planning for a retirement that starts at 60, even if the state pension only kicks in later

Your health is personal. Your retirement plan should be too.

Clarify Your Budget and Lifestyle Goals

This is where retirement planning becomes real. Once you understand when and how you can retire, the next step is to think about “what that retirement will look like?”

Ask yourself:

• Will I stay in the same home or move?
• Do I want to travel?
• Will I be supporting adult children or helping with grandkids?
• What does a comfortable retirement mean for me?

Use these answers to map out a simple budget: essential spending (bills, food, housing) and lifestyle spending (holidays, hobbies, gifts). Once you know the number, you can work backwards to build the income you’ll need to match it.

Get Trusted Advice Before You Decide

There are some excellent online tools out there from pension calculators to guides on planning for retirement. Websites like MoneyHelper are a great place to start if you want to explore things on your own.

But when it comes to putting all the pieces together – your pensions, your savings, your goals – speaking with a financial planner can help make things clearer.

When asked how people can approach retirement more confidently, the team at PMW, a UK-based financial planning firm, said: “We’re seeing more people in their 50s and early 60s reframe retirement not just as an end point, but as a lifestyle transition that needs proper planning. Confidence in retirement comes from clarity and knowing where your income will come from, how long it needs to last, and how to adapt if your circumstances change.”

If you’re unsure about tax efficiency, your pension mix, or how to draw down income safely, tailored advice could save you time and money, later on.

Conclusion – Take Control of What You Can

The state pension age may be rising, but your choices don’t have to be dictated by government policy. With the right steps, retirement can still be shaped on your terms.

Start with the basics: check your pension age, review your savings, picture your retirement life and get the support you need. Whether you want to retire early or work a little longer, a plan gives you more options and less stress.

Your future isn’t fixed. It’s flexible, if you’re prepared.

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