The state pension age threshold is set to rise in the coming years which means older people will have to wait longer for the benefit. Under Government proposals, the retirement age threshold is set to reach 67 by 2028.
If the state pension age does change, many people will be left waiting longer for their retirement benefits.
The free bus pass is a benefit which many older people look forward to as it can reduce their travel expenses significantly.
Currently, the state pension age is set to increase to 68 between 2044 and 2046.
It should be noted these figures are dependent on life expectancy predictions and are subject to change.
READ MORE: Britons nearing retirement risk ‘difficult future’ if markets fall – steps to avoid this
The public is notified of these changes ahead of time so they can adequately prepare for their retirement.
Older Britons will likely have to wait an extra year for their free bus pass as a result of the pending state pension age increase.
This is likely to be the case in many places in England, however, residents in Scotland, Wales, Northern Ireland and London can typically expect a free bus pass at the age of 60.
Many older people who have reached state pension age rely on the free bus pass so they can retain their independence as well as save money by not driving.
DON’T MISS
Many older people who have reached state pension age rely on the free bus pass so they can retain their independence as well as save money by not driving.
In Scotland and Wales, people can get a free bus pass at the age of 60.
However, in London, people may be able to benefit from cheaper travel before they reach state pension age depending on where they live in the UK.
On its website, Age UK said: “It’s also worth contacting the individual coach and train operators to see if they offer discounts for older people.
READ MORE: HSBC increases interest rates across savings account – how much more can you earn?
Anyone who is not entitled to the older person’s bus pass may be able to claim the disabled equivalent if they meet the qualifying criteria.
Those looking to claim this support can log onto the Government’s website to find their local authority’s contact details.
Applications for the free bus pass can be carried out through a state pensioner’s local council.
Different rules regarding bus discounts and concessions apply depending on which country in the UK you are living in.
For example, young people in Scotland are entitled to free bus travel if they have a new National Entitlement Card (NEC).
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
