Millions of people born in the 1970s may have to wait longer to collect their UK state pensions if a government review, which was announced this week, recommends bringing forward plans for a retirement age of 68.
The state pension age rose to 66 last year, with two further rises planned, meaning that by 2046 those born on or after April 1977 would need to wait until 68 before they can draw the benefit.
However, the review will look at bringing forward that change by eight years, so that the increase is phased in between 2037 and 2039.
The state payment is paid to anyone who has made at least 10 years’ worth of national insurance contributions during their working lifetime. The maximum payment is £179.60 a week, but how much you get depends on
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