State pension headache as Britons are living longer | Personal Finance | Finance


While life expectancy has grown these improvements have slowed in recent years, according to figures from the Office for National Statistics.

The Government is currently planning a phased increase to the age at which people can collect their state pension, however it’s unclear what will happen after.

Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: “Life expectancy increases are slowing but still growing and this is giving [the] government headaches as to the future pace of state pension age increases.

“State pension age has climbed rapidly as life expectancy soared with state pension age due to hit 67 in 2028 and a potential acceleration in the date at which it hits 68 currently the subject of a government review.”

READ MORE: Attendance Allowance explained: Eight tips for filling out DWP form

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