State pension age is rising – and the way it increases is changing | Personal Finance | Finance

If implemented, this could be a major change affecting hundreds of thousands of individuals right across the country.

The Government has explained its reasoning for the review, stating: “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 will consider evidence from right across the length and breadth of the UK.