Millions of workers could work longer with state pension age to rise to 67 'as early as 2028' under gov proposals | The Sun
MILLIONS of workers could have to work longer as the state pension age is set to rise to 67 as soon as 2028 under government plans.
Proposals tabled by ministers could also see those starting work now having their retirement delayed until they are in their 70s.
It comes amid plans drawn up to raise tens of billions of pounds for the Treasury, reports the Telegraph.
At the moment, Brits can access their hard-earned state pensions when they turn 66.
But as the government looks to find savings in public finances, the state retirement age for the next cohort of workers could be higher.
The age Brits can cash in their state pension is set to increase to 67 by 2028, and 68 by 2039.
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But it is understood ministers want to bring the latter forward to the mid-2030s.
It would see those who are in their mid-50s having to wait an extra year to get their pension.
And those who are just starting work now could be in their 70s by the time they can claim their state pension.
It is understood ministers are continuing to debate when the state pension age should hit 68.
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As things stand, a gradual rise to 67 is set for those born on or after April 1960.
And a gradual rise to 68 between 2044 and 2046 is on the cards for those born on or after April 1977.
But it is believed the government is drawing up plans to make the change even earlier, with existing policy saying it should happen by 2039.
Government sources told the Telegraph most ministers want the pension age to hit 68 by the mid-2030s – though it could be sooner.
They are understood to want to have a ten-year gap between the date the policy is legislated and when it takes hold.
That means it could take effect as early as 2033.
In the Autumn Statement it was revealed a review of the state pension age will be published early next year.
A DWP spokesman said: “No decision has been taken on changes to the state pension age.
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"The Government is required by law to regularly review the state pension age and the second state pension age review is currently considering, based on a wide range of evidence including latest life expectancy data and two independent reports, whether the rules around state pension age remain appropriate.
“The review will be published in early 2023.”
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