The State Pension age will increase much earlier than planned, according to a new move from the government. A review is now being carried out into the premature rise after the government previously said bringing forward an increase in the retirement age from 66 to 68 is "the fair thing to do."
Under the current legislation, the State Pension age would have increased to 68 between 2044 and 2046. But it will instead follow the recommendations in an independent review by John Cridland, former Director-General of the Confederation of British Industry (CBI), says the government.
The Cridland review says the pension age should go up to 68 seven years earlier than that, between 2037 and 2039. This is because of the impact of an increasing number of older people from the Baby Boomer generation (born 1945–65), along with a rise in life expectancy.
