People approaching pension age are being warned about changes to when they will be able to access their funds (Image: Getty)

A financial expert has explained how a major change to the state pension age would also have an impact on when people might be able to access their funds for the first time. The State Pension age is set to start its increase from 66 to 67 next year, with the rise expected to be fully in place for all men and women across the UK by 2028. This planned adjustment to the official retirement age has been on the books since 2014, with a further increase from 67 to 68 slated to occur between 2044 and 2046.

The Pensions Act 2014 brought forward the increase in the State Pension age from 66 to 67 by eight years. The UK Government also tweaked the phasing of the State Pens

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