Updated to reflect the state pension rates for 2026/2027. Employers may use these updated figures to support employees in planning for retirement. Additionally, there may be cases where employees choose to work beyond state pension age. In such situations, if an employee is receiving a state pension, it could affect payroll processes, particularly regarding national insurance contributions.
People continuing to work past state pension age contribute more than £60bn to the UK economy each year, equivalent to four times the projected annual cost of implementing the pensions 'triple lock', an analysis has argued.