Millions to retire later under state pension age increase plans – here’s who’s affected

The government is pushing a head with proposals to bring the planned rise in the state pension age to 68 ahead by at least seven years, its official spending watchdog has confirmed.Millions of people will face an extra year in work under the plans, as the Office for Budget Responsibility (OBR) indicates that the “current policy” is to move the rise from 2044 to 2037.In its latest report on the nation’s spending, the OBR states that the Treasury has confirmed the decision, despite the planned rise not being in legislation.Under the Pensions Act 2007, the notional policy remains for the state pension age to rise to 68 from 2044 to 2046. This remains the official guidance for current workers.But the change means that around five million people who are currently aged between 49 and 55 would ha