LONDON (Reuters) -Britain on Monday said it would launch a review into raising the state pension age - a key factor for the public finances - at the same time as a fresh look at contributions by
UK Initiates Review on Potential Increase of State Pension Age
Review of State Pension Age
LONDON (Reuters) -Britain on Monday said it would launch a review into raising the state pension age - a key factor for the public finances - at the same time as a fresh look at contributions by workers towards their retirement.
Current State Pension Age
"Alongside reviving the Pensions Commission, I am also announcing the launch of the next statutory Government Review of State Pension age," Work and Pensions Secretary Liz Kendall said in a statement.
Legislative Background
The current state pension age is 66. The previous government said in 2023 that an increase in the state pension age to 67 would be phased in between 2026 and 2028 and that a further review on raising the age to 68 would take place within two years after the next election which was held in 2024.
Government's Commitment to Review
Under 2014 legislation, Britain's government must undertake a review every six years that considers demographic and economic factors affecting retirement age.
(Reporting by Sam TabahritiEditing by William Schomberg and David Milliken)
