Britain’s youngest workers face having to work until they are 70, under plans to be unveiled today by the Chancellor. Millions more will not be able to retire until they reach 69.
The new formula, which means the state pension age will rise as average life expectancy increases, will be published in George Osborne’s Autumn Statement today.
He will announce that the state pension age will be moved to 68 in the mid-2030, 69 by the end of the 2040s and is likely to rise to 70 by 2060.
This follows previously published plans to increase the retirement age to 66 in 2020 and 67 in 2028
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