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SMF Proposes £12,500 Pension Delay Bonus for Under-40s

6/9/2026

Summary

Story summary

The Social Market Foundation unveiled a “citizens advance” offering under-40 Britons £12,500 if they delay their state pension one year.
Eligibility requires ten years of National Insurance contributions and government approval.
Over-60s hold 56 % of housing wealth while under-40s own about 4 %.
Seventy percent of under-40s say they never buy a home.
The scheme would cost £1.3 bn in year one, target earners below £50,000 and be repaid through postponed pensions.

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Story summary

The Social Market Foundation unveiled a “citizens advance” offering under-40 Britons £12,500 if they delay their state pension one year.
Eligibility requires ten years of National Insurance contributions and government approval.
Over-60s hold 56 % of housing wealth while under-40s own about 4 %.
Seventy percent of under-40s say they never buy a home.
The scheme would cost £1.3 bn in year one, target earners below £50,000 and be repaid through postponed pensions.