UK State Pension Age Could Rise to 80
UK State Pension Age Could Rise to 80

UK State Pension Age Could Rise to 80

News summary

The UK government is conducting its third review of the State Pension age, with the next scheduled increase from 66 to 67 set for 2026–2028, and a further rise to 68 now projected for 2044–2046. New actuarial analysis warns that the pension age could eventually need to rise to 80 to keep the system financially sustainable, far exceeding previous estimates. The system faces mounting pressure due to rising life expectancy, narrowing socio-economic gaps, and the triple lock policy, which ensures annual pension increases but strains public finances. The cost of state pensions is expected to double as a share of GDP over the next 50 years. The revived Pensions Commission has been tasked with finding ways to ensure fairness and sustainability, as research shows a persistent gender pension gap that leaves women more at risk of outliving their savings. Unions have threatened protests if pension age increases are accelerated, and experts warn future reviews may recommend even faster or higher hikes.

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