Millions of workers could face having to work longer under plans to bring the rise in state pension age forward – a move that would affect people in their early fifties the most.
Currently, the state pension age is due to rise to 67 by April 2028, then gradually to 68, with legislation saying the rise would be phased in between April 2044 and 2046.
However, reports today have suggested the Treasury told the Office for Budget Responsibility (OBR) it is looking to bring this rise forward to 2037.
Shorts
This would mean around five million workers aged 49 to 55 would have to work an extra year before being able to claim their state pension, costing them around £12,500.
