Changes will impact millions of people over the coming years
Huge changes to the state pension are set to be introduced from next year.
From 2026, the state pension age in Britain will increase from 66 to 67.
It means millions of people in their 50s and early 60s will get their state pension later and potentially have to work longer than planned.
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The Government has confirmed the increase to the state pension age is pencilled in for between 2026 and 2028.
The pension age generally increases every couple of decades or so reflecting life expectancy and the ageing population.
But the timing of the latest increase could come as a blow to those approaching 66 who had been looking forward to retirement and unaware of the changes.
It may leave some scrabbling to work out if they have enough savings or cash from a private pension to avoid having to work for longer.
Many will not have that option.
Meanwhile, it also comes amid reports the Government may be considering bringing the next rise to 68 forward from the current planned date of 2044.
Any changes would be subject to at least 10 years’ notice to allow people to plan for retirement.
Jonathan Cribb, an associate director at the Institute of Fiscal Studies (IFS), said: “The Government will shortly be considering whether to bring forward the following age rise to 68, which is currently scheduled for 2044.
“It is poorer people in their mid 60s who are hit most by state pension age increases.
“They also often have little savings or private pensions to fall back on.”
