With government debt at record levels, Prime Minister Liz Truss is under pressure to find cost savings. And the state pension, costing over £100 billion every year could be in her sights.
At the Tory party conference this week, Truss was asked if she would raise the state pension age beyond 67. Her answer was evasive, saying: "You're asking me to speculate [on] all kinds of decisions that haven't yet been made,” suggesting that a change could be coming.
Raising the state pension age could save the government an estimated £5 billion and Truss has limited other options. The much-publicised Triple Lock guarantees the state pension will rise in line with the highest of inflation, earnings and 2.5%. This, combined with an aging population, means the total state pension bill grows ever bigger.
Current rules
The current state pension age is 66, but that’s due to rise to 67 between 2026 and 2028, and to 68 between 2044 and 2046.
State pension age: why changes could leave a hole in your pension
That means if you’re 43 or under, you will have to wait until you’re 68 years old to receive the state pension, and if you’re 60 you’ll only get the state pension when you turn 67. If you’re currently just over 43 or 60, you will need to check the state pension website as your state pension age will depend on your birthday.
Source
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BTW back in 2015 I heard a pension's expert say that the age of 65 was set in 1948 when over half the population didn't make 65
According to life expectancy it should now be 78 (SEVENTY EIGHT)
UK Gov are piddling around with it