The State Pension age is due to increase - with some Brits forced to work longer before receiving the payment. Currently, the State Pension age is 66 for men and women. This will rise to 67 for people born on or after April 1960, with the increase starting to come in from May 6 next year.

The full, new State Pension is currently worth £230.25 per week, but the amount will vary depending on how many years of National Insurance (NI) contributions or credits you have accrued. You need at least 35 years of NI contributions or credits to get the full amount and have to have made them for at least 10 years to receive any State Pension. The rise in the State Pension age (SPA) will be phased in, so it means individuals won't reach pension age on a particular date.

It will start to increase in monthly increments from 66 to 67 for anyone born after April 6, 1960.

People born after March 6, 1961, will have a State Pension age of 67. A further increase to 68 is due to start in 2044, though it's possible this will be brought forward.

A study by the Institute for Fiscal Studies (IFS) showed that about two-thirds of people in their early-to-mid-60s accurately report their SPA as 66. For those whose SPA is between 66 and 67 this is lower at two-fifths.

However, according to the IFS there is a minority of people who either underestimate or are unaware of their SPA. It is the case for 16% of those with a SPA between 66 and 67, which the think tanks says is equivalent to about 130,000 people.

This awareness gap is "concerning" as it can lead to financial risks, according to the IFS.

It said: "Many people in their late 50s and early 60s make consequential decisions around when to retire, how much to save, and how and when to draw down on their wealth.

"Some of those people may therefore be making these critical decisions based on incorrect assumptions about when they can start claiming the State Pension. And for most, the state pension will represent a large part of their retirement resources."

Anyone who wants to check their State Pension age can find out via the Government's dedicated SPA checking service online.

You can use it to check when you’ll reach State Pension age, the age you would need to be to qualify for any Pension Credit and when you’ll be eligible for free bus travel.

Be aware though that the SPA is reviewed regularly so the results you get might change in the future.