Economy

State pension age could be raised to 69 years old: ‘a rapid increase,

  • 30. Mar 2023. 20:11
  • By The EU Times
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Retirees could face a “rapid increase” in state pension age, as the government plans to raise it to 69 by 2028.

The government has said it plans to raise the state pension age to 68 by 2028, but there are now concerns that the age could increase to 69 by the same date.

The news was revealed in a document on the Department for Work and Pensions (DWP) website, which suggested the state pension age could be increased even further in the future.

The document states: “The government is currently consulting on a proposal to increase the State Pension Age to 68 by 2028. This could be accelerated to 69 by 2028.”

The document also suggests that the government could look to raise the state pension age even further in the future, with a possibility of raising it to 70 by 2035.

The news has caused concern among retirees, who fear that they may have to wait even longer before they can access their state pension.

The Department for Work and Pensions has said that the state pension age increase is necessary to ensure the long-term sustainability of the state pension system.

The government has argued that life expectancy is increasing, which means that people are living longer. This means that there are more people claiming the state pension, and this puts a strain on the system.

However, campaigners have criticised the government's plans, arguing that it is unfair to force people to wait even longer for their pension.

It remains to be seen how the government will respond to these concerns, but one thing is certain – the state pension age could be raised to 69 by 2028. This would be a rapid increase, and it could have a major impact on the lives of many retirees.