Headlines
UK launches review into raising state pension age
Published by Global Banking and Finance Review
Posted on July 21, 2025
1 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on July 21, 2025
1 min readLast updated: January 22, 2026
The UK government has launched a review to potentially increase the state pension age, considering economic and demographic factors.
LONDON (Reuters) -Britain on Monday said it would launch a review into raising the state pension age - a key factor for the public finances - at the same time as a fresh look at contributions by workers towards their retirement.
"Alongside reviving the Pensions Commission, I am also announcing the launch of the next statutory Government Review of State Pension age," Work and Pensions Secretary Liz Kendall said in a statement.
The current state pension age is 66. The previous government said in 2023 that an increase in the state pension age to 67 would be phased in between 2026 and 2028 and that a further review on raising the age to 68 would take place within two years after the next election which was held in 2024.
Under 2014 legislation, Britain's government must undertake a review every six years that considers demographic and economic factors affecting retirement age.
(Reporting by Sam TabahritiEditing by William Schomberg and David Milliken)
The state pension age is the age at which a person is eligible to receive their state pension. In the UK, it is currently set at 66, with plans for future increases.
A pension review is an evaluation of the pension system, including contributions and benefits, to ensure it meets the needs of the population and adapts to changing demographics.
Worker contributions refer to the amounts deducted from an employee's salary to fund their pension. These contributions help build the retirement income that workers will receive later.
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