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Daily Mirror
Daily Mirror
Politics
Dan Bloom & Josh Luckhurst

State pension age could rise to 68 'as soon as 2035' - delaying retirement for millions

Millions of Brits could have retirement delayed as ministers look at raising the State Pension to 68 as soon as 2035.

State Pension age is currently 66 but is gradually increasing for men and women. It will reach 67 between 2026 and 2028, before then rising to 68 between 2044 and 2046.

But a review - which will report back by May next year - is looking at whether to bring forward the pension age of 68 to 2037-39.

Now ministers are looking at the idea of bringing it forward to the mid-2030s, according to The Sun - with experts suggesting it could land on 2035. No10 sources refused to dent the reports.

It comes hours after Liz Truss refused to rule out a quicker rise in the state pension age.

Asked if she'd end up raising the age beyond 67 she said: "You're asking me to speculate about all kinds of decisions that haven't yet been made.”

Ms Truss refused to rule out the idea on Tuesday (REUTERS)

It came as the PM battles for support and to get the debt down following her U-turn to scrap plans of axing the 45p top Income Tax rate on Monday.

Yesterday the Prime Minister was quizzed about any plans to hike the threshold at which people can start receiving the State Pension, currently £185.15 per week.

Asked if she will lift the retirement age beyond 67, Ms Truss added: “We are facing a very difficult international situation, a slowing global economy, so yes I will do what it takes to fix those issues.”

Under the Pensions Act 2007, the State Pension age for men and women will increase from 67 to 68 between 2044 and 2046. It is thought ministers could bring this forward into the next decade in a bid to boost Treasury coffers.

The Pensions Act 2014 requires the Government to regularly review State Pension age. The next review must be published by May 7, 2023.

The current State Pension age is 66 and is not due to be lifted by another 12 months until 2028 (Getty Images)

The previous review carried out by Sir John Cridland in March 2017 suggested raising the State Pension age to 68 between 2037 and 2039 and experts now fear it could be brought in even earlier than that following Ms Truss' refusal to rule out the idea.

Age UK charity director Caroline Abrahams said: "Any decision by the Government to make today's 50-somethings wait longer for their State Pension would be setting up hundreds of thousands of ordinary men and women for a miserable and impoverished period in their run up to retirement – a regressive and deeply regrettable step."

Lib Dem work and pensions spokeswoman Wendy Chamberlain said: "Liz Truss seems to have completely lost the plot.

"After screwing over mortgage borrowers, now it looks like she’s preparing to force millions to tear up their retirement plans.

"It can’t be right to raise the retirement age when life expectancy has dropped. Who will be next on Liz Truss’s hit list? It just shows this Government is completely out of touch."

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