The government has announced plans to increase the state pension age to 68 between 2037 and 2039, in line with proposals laid out in the Cridland report.
The state pension age is currently set to increase to 68 between 2044 and 2046, but under new proposals this would be brought forward seven years. The Department for Work and Pensions (DWP) said that, when the state pension was introduced in 1948, a 65-year-old could expect to spend 13.5 years in receipt of it, which would equate to around 23% of their adult life. However, this has been increasing ever since due to changes in life expectancy and a modern-day 65-year-old can now expect to live for another 22.8 years - or a third (33.6%) of their adult life. The latest projections fr...
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