Pension age 'should rise to 70 by 2040': Government's tsar says age limit should rise 20 years earlier than scheduled

‘The state pension age should rise to 70 by 2040 – more than 20 years earlier than scheduled under government changes, the country’s pension tsar said last night.

At present, a woman can claim her State pension at the age of 62 while men receive theirs from the age of 65.

Ministers have already outlined plans to first align and then increase the ages at which men and women become eligible for the pension – but Lord Turner said the current timetable should be speeded up even more dramatically.

Under the current plan, the State pension age for women will match men at 65 by 2018, and then both men and women will rise to 66 by 2020, 67 by 2028, 68 by the ‘mid-2030s’ and 69 by the ‘late-2040s’.’

Read more …