PM Liz Truss is considering options to help pay for her tax cuts, growth and bills help package.
Prime Minister Liz Truss has not ruled out increasing the retirement age to help balance the nation's books.Under government plans that age would rise to 67 this decade, and 68 as early as 2039. TwoMs Truss is under pressure to find savings to pay for her tax-cutting economic growth plan and to get the UK's national debt falling.
A review chaired by Conservative peer Baroness Neville-Rolfe is looking at what factors the government should take into account when setting the pension age. At the moment, the age limit is based on ensuring no-one spends more than one third of their adult life in retirement. A separate review by the government's actuary is examining the latest life expectancy data.Two increases to the state pension age are currently set out in legislation:A gradual rise to 68 between 2044 and 2046 for those born on or after April 5, 1977
When it launched the reviews in January, the Department for Work and Pensions said: "As the number of people over state pension age increases, due to a growing population and people on average living longer, the government needs to make sure that decisions on how to manage its costs are, robust, fair and transparent for taxpayers now and in the future.
"It must also ensure that as the population becomes older, the state pension continues to provide the foundation for retirement planning and financial security."
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