The age to qualify for your State Pension is to increase, the Department for Work and Pensions has confirmed. It will be the second review into the current retirement age, which is set at 66 for both men and women.
The State Pension age is regularly reviewed to make sure it is affordable and fair. Especially as people are living longer and spending a greater portion of their adult life in retirement.
The DWP had previously said the review was because "when the State Pension was introduced in 1948, a 65-year-old could expect to spend 13.5 years receiving the benefit, around 23 per cent of their adult life". But, this has been increasing ever since and it is now estimated that a 65-year-old can expect to live for another 22.8 years, or 33.6 per cent of their adult life in retirement, reports the Daily Record.
