Millions of people now in their forties could have to work at least an extra year before they receive their state pension, ministers revealed yesterday.
The Government confirmed it is planning to bring forward an increase in the state pension age to 67 to as early as 2026.
Work and Pensions Secretary Iain Duncan Smith said the timetable for raising the age was ‘too slow’.
At the moment, the age at which people can claim their state pension is due to increase to 67 in 2036 and 68 by 2046.
While no firm decisions have yet been taken, ministers made clear that they would like to bring forward the retirement age change.
They argued that more drastic action needs to be taken to avert a pensions crisis as life expectancy continues to rise.
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