The age at which people receive the basic state pension will rise to 68, the government confirmed today as it unveiled long-awaited reforms of the UK's pensions system.
Revealing the new White Paper in the House of Commons, pensions minister John Hutton said to pay for a more generous state pension, the retirement age needs to go up.
Hutton said it will rise to 66 between 2024 and 2026, to 67 between 2034 and 2036 and to 68 between 2044 and 2046.
As a result of the changes, Hutton claimed that by 2050 anyone who has been in employment or caring throughout their working life will get around 135 a week or more in retirement in state pension.
With ministers looking to defuse the UK's pensions timebomb, the measures...