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Business
John Stevens & Aaron Morris

State Pension age may rise to 68 sooner than thought - costing millions of people in their 50s £10,000

Mel Stride Work and Pensions Secretary DWP

The age of eligibility for State Pensions may soon rise due to a 'pretty hairy' state with regards to public finances, the Work and Pensions Secretary has said.

Mel Stride has announced that a decision will be made within the next six months, with regards to changing when people can retire and collect their pension.

As it currently stands, men and women must be 66 to retire, but this will rise to 67 by 2028 at latest - with the Government previously announcing that it will rise once more to 68 in 2039.

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