Government to conduct early review into state pension age

The work and pensions secretary has announced a review of the state pension age.

The government is required to conduct a review into the state pension age - currently 66 - every six years, but it appears to be starting this one earlier as the last one concluded in 2023.

Giving a speech in west London, Liz Kendall, the work and pensions secretary, also announced that she would revive the Pension Commission to consider why future pensioners are on track to be poorer than pensioners now.

The announcement comes following warnings from experts that people looking to retire in 2050 are on course to receive £800 per year less than current pensioners.

The Department for Work and Pensions (DWP) said 45% of working-age adults were putting nothing into their pensions, with concerns that the cost of living crisis is preventing people from investing in their retirement.

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