The DWP pension age of 66 is already set to rise to 67 between May 2026 and March 2028. From those retiring from 2044, it is expected to rise to 68.
But workers born after April 1970 may have to work until they are at least 70 before claiming their state pension, as experts look at the experience of other countries that already automatically link payments to life expectancy, such as Denmark, which recently raised its retirement age to 70.
Dr Suzy Morrissey, who has been commissioned to review the official retirement age, said: “The impact of decisions around state pension age are far-reaching. Therefore, I want to make sure I have heard views from a broad range of organisations, experts and individuals throughout the course of my review, including those who have an interest in the wider social and economic impacts of an ageing society.”
The number of people at state pension age is projected to rise by 1.7 million between mid-2022 and mid-2032, up from an estimated 12.0 million to 13.7 million people.
This projection accounts for the planned increases in state pension age to 67 for both sexes.
Meanwhile, by mid-2032 more than one in 10 (10.3%) of the UK population are projected to be aged 75 and over, compared with about one in 11 (9.1%) in mid-2022.
The biggest rail workers’ union has warned that raising the state pension age would be met with protests and direct action.
The Rail, Maritime and Transport union said a government review had sparked fears of a big increase in the pension age.
RMT general secretary Eddie Dempsey said: “The UK state pension is already one of the worst in the entire developed world, which is a direct result of decades of governments transferring both our national and personal wealth to the super rich.
“Any decision to squeeze more out of working people by forcing us to work even longer would be a national disgrace.”
He continued: “Our members work in physically demanding, round-the-clock, safety-critical jobs.
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“Many already struggle to reach retirement in good health, especially shift workers.
“Raising the pension age even further isn’t just cruel and unnecessary, it’s a slap in the face to the very people who keep this country running.
“If this government makes any move to drastically increase the retirement age, we intend to lead our movement onto the streets and will not hesitate to protest nationally and take co-ordinated direct action.”
