Labour minister Liz Kendall announces review of state pension age
Work and pensions secretary Liz Kendall has announced a review of the state pension age, opening the door for it to be increased. Ms Kendall, speaking in central London on Monday morning as she relaunched the Pensions Commission, warned of a growing threat of pensioner poverty unless there was major reform to the system.It comes as research by Age UK found that people looking to retire in 2050 are on course to receive £800 per year less than current pensioners.The government reviews the state pension age every six years, which is currently 66 but is already set to rise to 67 in 2028. By the by the mid-2040s it is scheduled to rise to 68. However, earlier this year, Denmark became the first country to raise it to 70 for those retiring by 2040 and after in a move which raised speculation other countries including the UK may follow.Liz Kendall More