Comments

The State Pension age is set to start rising from 66 to 67 next year, with the increase due to be completed for all men and women across the UK by 2028. The planned change to the official age of retirement has been in legislation since 2014 with a further rise from 67 to 68 set to be implemented between 2044 and 2046. ‌

The third review of the State Pension age review launched last month and will look at future rises, taking into account life expectancy, the labour market, costs and sustainability. Forecast expenditure on the State Pension in 2025/26 is £146 billion, however, by 2029/30, the Department for Work and Pensions (DWP) estimates this will rise to £169bn. ‌

Under the Triple Lock, State Pensions increase each year in-line with whichever is the highest of aver

See Full Page