Pension age to be raised to 68 by mid-2030s

Pension age to be raised to 68 by mid-2030s

PM Liz Truss is thinking of drastically raising the state pension eligibility age from 60 to 68 by the middle of the 2030s, which would be more than a decade earlier than the existing policy.

Currently, once a person reaches the age of 66, they may apply for their state pension regardless of gender.

It was anticipated that it will reach 67 in 2028 and not climb again until 2048.

In an effort to save government expenditure, the government is now contemplating delaying pension eligibility until age 68 starting in 2035, which would require individuals in their 50s to work another year before retiring.

The Sun reports that certain cabinet members have encouraged the PM to hasten the increase in the pension age in order to save up to £6 billion annually.

Yesterday, the PM declined to say if the adjustment had been approved.

You’re asking me to guess on all sorts of judgments that haven’t yet been taken, she said to Sky News.

We are dealing with a very challenging international scenario and a declining global economy, so I will take whatever steps are necessary to address those problems.

»Pension age to be raised to 68 by mid-2030s«

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