Autumn Statement: State pension age to hit 67 by 2026

The state pension age will already rise to 66 by 2020 instead of 2026 under previous plans. The move to bring the rise to 67 eight years early was anticipated after pensions minister Steve Webb said the government was considering the further rise in September. Osborne said the move mirrors the systems in Australia, the US and Germany, and that it will save £59bn in public spending. During the Autumn Statement, the Chancellor announced the government will increase the basic state pension by £5.30 per week from April next year, after rumours it would change the rules by which it calc...