The Government website explains: “As the number of people over state pension age increases, due to a growing population and people on average living longer, the Government needs to make sure that decisions on how to manage its costs are, robust, fair and transparent for taxpayers now and in the future.
“It must also ensure that as the population becomes older, the state pension continues to provide the foundation for retirement planning and financial security.”
The review is set to take a number of issues into account before a final decision is made.
This includes the latest life expectancy data, as well as the costs of an ageing population and labour market changes.
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