The State Pension age in the UK is due to begin its ascent from 66 to 67 next year, with the increase anticipated to be fully implemented for all men and women across the nation by 2028.

This planned adjustment to the official retirement age has been legislated since 2014, with a further rise from 67 to 68 scheduled to occur between 2044 and 2046, according to Express.co.uk..

Just last month, the third review of the State Pension age was launched, which will contemplate future increases, taking into account factors such as life expectancy, labour market conditions, costs and sustainability.

The Department for Work and Pensions (DWP) predicts that expenditure on the State Pension will amount to £146 billion in 2025/26, however this figure is projected to climb to £169bn by 2029/30.

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