The plan to bring forward the increase in the state pension age to 68 has reportedly be “delayed” by ministers. However, as the hike to 67 is set to go ahead as planned, over 50s still face a longer wait for their payments from the Department for Work and Pensions (DWP).
Currently, the state pension age is 66 – the age at which people are recognised as pensioners by the Government. It had been expected that the age would be increased to 68 from 2044, but a recent report showed that ministers had considered bringing this forward to between 2037 and 2039.
But the proposal to bring the increase forward has now been abandoned, the Financial Times reports. It is believed to be due to fears of a backlash from voters in their 50s, as well as falling life expectancy figures. It was expected that confirmation of the state pension age rise would come by May of this year, but that is now unlikely to happen until spring 2024.
