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The current State Pension age is 66(Image: Getty )<\/p>\nGovernment officials have initiated a formal examination that may see the State Pension age increased in the coming years<\/p>\n
21:19, 21 Jul 2025Updated 21:24, 21 Jul 2025<\/p>\n
The current State Pension age is 66(Image: Getty )<\/p>\n
The State Pension age could be increased to 70 following new DWP<\/a> proposals that would see the UK mirror Denmark’s approach to retirement. Government officials initiated a formal examination today that may lead to raising the State Pension age further than the existing proposal to lift it to 68 by the mid-2040s.<\/p>\n The retirement age for millions may increase as a result of growing concerns over the escalating expense of the triple lock guarantee – which sees the State Pension increase each year by whichever is highest out of inflation, wages based on average growth between May and July, or 2.5%.<\/p>\n It comes after Denmark has recently revealed its intentions to elevate its State Pension<\/a> age to 70 by 2040. The Scandinavian country has linked its official retirement age to life expectancy since 2006, conducting reviews every five years.<\/p>\n Currently, the Danish retirement age stands at 67 but is scheduled to climb to 68 in 2030 and 69 in 2035. Those born after December 31, 1970 will face retirement at 70.<\/p>\n The urgency to reconsider Britain’s pension age follows word from the Government’s fiscal watchdog that public finances are heading down an “unsustainable” route due to the nation’s ageing demographics, spiralling NHS<\/a> expenditure and substantial state pension pledges, the Liverpool Echo reports<\/a>.<\/p>\n Never miss a story with the MEN’s daily Catch Up newsletter – get it in your inbox by signing up here<\/a><\/p>\n The Office for Budget Responsibility (OBR) has cautioned that the triple lock is now projected to cost three times the original estimate by 2030, reaching \u00a315.5 billion annually.<\/p>\n While ministers remain dedicated to maintaining the triple lock through the next election, scheduled for 2029, they face mounting pressure to reassess pension strategy and guarantee the system’s long-term viability. The State Pension age currently stands at 66 and is already set to increase to 67 between 2026 and 2028<\/a>.<\/p>\n Under existing proposals, it would then climb to 68 between 2044 and 2046 \u2013 but this timeline is now being reassessed. Any definitive decisions are unlikely before the election but the discussion has begun, the i newspaper<\/a> reports.<\/p>\n The legally mandated review will examine how long people typically remain in retirement alongside broader considerations including life expectancy, employment trends and public finances. It will launch concurrent with comprehensive private pension reforms, featuring proposals to extend auto-enrolment to millions of younger employees and boost contributions from both workers and employers.<\/p>\n Work and Pensions Secretary Liz Kendall<\/a> is also reinstating the influential Pensions Commission \u2013 dormant since 2006 \u2013 in an effort to address what she characterised as an escalating retirement savings crisis.<\/p>\n She said: “Too many people face retiring with incomes well below the level they expected or need. We need to tackle the barriers that stop too many saving in the first place.”<\/p>\n The Department for Work and Pensions (DWP<\/a>) has released research indicating that Brits expected to retire in 2050 are heading for \u00a3800 \u2013 or 8% \u2013 less income from private pensions compared to those retiring today.<\/p>\n