The Department for Work and Pensions (DWP) state pension age change could be brought forward for millions, with Treasury officials reportedly pushing for an earlier increase to 68. Under current plans, the state pension age will rise from 66 to 67 between 2026 and 2028, and then to 68 between 2044 and 2046. However, Treasury officials have told the Office for Budget Responsibility (OBR) that the increase to 68 could be brought forward by at least seven years, to 2037, according to The Times.
Impact on Millions of Workers
Around five million people aged 49 to 55 could be forced to wait an extra year for their state pension, costing them approximately £12,500 each. This potential change has sparked significant concern among those nearing retirement age.
Government Response
Labour Party Pensions Minister Torsten Bell responded to the story on X, stating: "This story is just wrong. Legislation sets out that the State Pension age is due to rise to 68 in the 2040s. The previous Tory government said it wanted to bring this forward to the late 2030s – that is what this story is referring to NOT anything this govt has said."
Ongoing Review of State Pension Age
The government announced the launch of the third review of State Pension age in July 2025. This review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. As set out in the Pensions Act 2014, the review will consider evidence from two reports: an independent report led by Dr Suzy Morrissey on specified factors relevant to the review, and a report from the Government Actuary’s Department (GAD) examining the latest life expectancy projections data.
Dr Suzy Morrissey is keen to hear views from a broad range of organisations, experts and individuals, including those who have an interest in the wider social and economic impacts of an ageing society.
