Is the government once again going to push the age at which we can claim the state pension?
That’s reportedly what is being discussed inside government. The Treasury would like to increase the age of eligibility to 68 as early as 2034 or 2035. Currently, those born before 5 April 1960 can still expect to retire at 66. Those born after that date will be looking at a phased introduction of the age of 67. The next increase, to 68, is only due to come in between 2044 and 2046. This will affect those born after 5 April 1977, thus affecting workers in their mid-40s and below. If this change is brought forward, as is being floated, then those in their early 50s will have to work a little longer or save a little harder, if they can.
How would it work?