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State pension age rises hurt this group the most – should we be working longer?
['Laura Miller', 'Social Links Navigation']
Latest from MoneyWeek
But the effects of previous state pension age increases have not been felt equally, according to research by the Institute of Fiscal Studies (IFS).
The government’s review of the state pension age will explore whether it should automatically increase in line with rising life expectancy, potentially pushing the state pension age up to 70.
It will look at the "merits" of implementing automatic adjustments to strengthen government finances, as well as assessing how the state pension age can manage “the long-term sustainability of the state pension”.
There is no official retirement age in the UK – people can usually continue working for as long as they wish – but many people retire once they reach state pension age or before.
Delaying retirement – working longerRaising the state pension age will encourage – or force – many people who can not afford to retire without the state pension income to work longer.
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