From this date onwards, Britons will have to wait an extra two years to draw from their pension.

It is worth noting that for many people, accessing their retirement fund when they reach their NMPA would not be advisable. It is not the recommended age to start drawing money, only the earliest age someone is allowed to.

People who had planned to retire earlier than their state pension age could be affected by these changes, as they will now not be able to access their savings as early.

But for those who could not afford to retire early in any case, the changes may not have much of an impact.