Rachel Reeves said the state pension age review is needed to ensure system is ‘affordable’ (Image: Getty)
Chancellor Rachel Reeves has said a review into raising the state pension age is needed to ensure the system is “sustainable and affordable”.
The Government review is due to report in March 2029 and Ms Reeves said it was “right” to look at the age at which people can receive the state pension as life expectancy increases.
Article continues below ADVERTISEMENT
Guys in Ashburn Can Get Cialis 100% Online - Big Pharma Doesn't Want You to KnowRex MD is trusted by over 450k men in the US. See if you...Rex MD | Sponsored Sponsored
Learn More
Undo
DON'T MISS
Powered by
The 5 ways to protect your money from Rachel Reeves' tax raids
Comments
New calls for over-60s to be exempt from paying National Insurance
3 Comments
DWP State Pension looks set for another major change
9 Comments
Brits urged to check 9 things before State Pension age rises next year
Comments
Major update on 'grossly unfair' pensions changes as Rachel Reeves set to press ahead
24 Comments
How many years you'll need to work to get full ￡230.25 weekly payout
6 Comments
State pension age update as DWP makes huge announcement
515 Comments
State pensioners can avoid tax on pension legally and gain ￡694 a year
Comments
Households can claim up to 90% discount on water bills - check if you're eligible
1 Comments
Rachel Reeves accused of planning wealth tax raid on middle-class workers to fix economy
31 Comments
Labour to relaunch pensions group over fears retirees will be ￡800 poorer by 2050
32 Comments
DWP issued state pension warning hours after major announcement
Comments
Rachel Reeves told to water down scheme that could hit thousands
Comments
Rachel Reeves takes major gamble as her future hangs in the balance
165 Comments
Rachel Reeves savaged by Reform as Chancellor warned a 'crisis' is incoming
17 Comments
Massive tax hikes 'looming' as Kemi Badenoch issues major warning
447 Comments
Tips to boost DWP State Pension and income beyond retirement
Comments
Rachel Reeves dealt massive new blow as she creates her own ￡20.7bn blackhole
91 Comments
Rachel Reeves 'considering tax raid' on pensioners after winter fuel U-turn
978 Comments
Rachel Reeves 'stealth tax' update as experts list 5 moves to outsmart it
4 Comments
The 5 ways to protect your money from Rachel Reeves' tax raids
Comments
New calls for over-60s to be exempt from paying National Insurance
3 Comments
DWP State Pension looks set for another major change
9 Comments
Brits urged to check 9 things before State Pension age rises next year
Comments
Major update on 'grossly unfair' pensions changes as Rachel Reeves set to press ahead
24 Comments
How many years you'll need to work to get full ￡230.25 weekly payout
6 Comments
State pension age update as DWP makes huge announcement
515 Comments
State pensioners can avoid tax on pension legally and gain ￡694 a year
Comments
Households can claim up to 90% discount on water bills - check if you're eligible
1 Comments
Rachel Reeves accused of planning wealth tax raid on middle-class workers to fix economy
31 Comments
Labour to relaunch pensions group over fears retirees will be ￡800 poorer by 2050
32 Comments
DWP issued state pension warning hours after major announcement
Comments
Rachel Reeves told to water down scheme that could hit thousands
Comments
Rachel Reeves takes major gamble as her future hangs in the balance
165 Comments
Rachel Reeves savaged by Reform as Chancellor warned a 'crisis' is incoming
17 Comments
Massive tax hikes 'looming' as Kemi Badenoch issues major warning
447 Comments
Tips to boost DWP State Pension and income beyond retirement
Comments
Rachel Reeves dealt massive new blow as she creates her own ￡20.7bn blackhole
91 Comments
Rachel Reeves 'considering tax raid' on pensioners after winter fuel U-turn
978 Comments
Rachel Reeves 'stealth tax' update as experts list 5 moves to outsmart it
4 Comments
The 5 ways to protect your money from Rachel Reeves' tax raids
Comments
New calls for over-60s to be exempt from paying National Insurance
3 Comments
DWP State Pension looks set for another major change
9 Comments
Brits urged to check 9 things before State Pension age rises next year
Comments
Major update on 'grossly unfair' pensions changes as Rachel Reeves set to press ahead
24 Comments
How many years you'll need to work to get full ￡230.25 weekly payout
6 Comments
State pension age update as DWP makes huge announcement
515 Comments
The state pension age is currently 66, rising to 67 by 2028 and the Government is legally required to periodically review the age.
The Chancellor told reporters: “We have just commissioned a review of pensions adequacy, so whether people are saving enough for retirement, and also the state pension age.
“As life expectancy increases it is right to look at the state pension age to ensure that the state pension is sustainable and affordable for generations to come.
Sponsored
hear.com | Sponsored Sponsored
Thousands Are Ditching Their Hearing Aids for This Game-C hanger
Undo
“That’s why we have asked a very experienced set of experts to look at all the evidence.”
The review was announced by the Department for Work and Pensions on Monday and will involve an independent report, led by Dr Suzy Morrissey, on specified factors relevant to the Review of State Pension Age along with the Government Actuary’s Department’s examination of the latest life expectancy projections data.
Read more: GB News halted for breaking news and it's bad news for Rachel Reeves
Read more: Rachel Reeves dealt massive new blow as she creates her own ￡20.7bn blackhole
It comes as Ms Reeves is facing further pressure over the UK’s public finances after official figures showed higher-than-expected government borrowing last month due to soaring debt interest payments.
The Office for National Statistics (ONS) said June borrowing rose to ￡20.7 billion last month – ￡6.6 billion higher than a year earlier and the second highest June borrowing since records began, only behind that seen in 2020 at the height of the pandemic.
The ONS said interest payable on debt jumped to ￡16.4 billion due to a large rise in Retail Prices Index (RPI) inflation impacting index-linked government bonds.
DON'T MISS
Powered by
The 5 ways to protect your money from Rachel Reeves' tax raids
Comments
New calls for over-60s to be exempt from paying National Insurance
3 Comments
DWP State Pension looks set for another major change
9 Comments
Brits urged to check 9 things before State Pension age rises next year
Comments
Major update on 'grossly unfair' pensions changes as Rachel Reeves set to press ahead
24 Comments
How many years you'll need to work to get full ￡230.25 weekly payout
6 Comments
State pension age update as DWP makes huge announcement
515 Comments
State pensioners can avoid tax on pension legally and gain ￡694 a year
Comments
Households can claim up to 90% discount on water bills - check if you're eligible
1 Comments
Rachel Reeves accused of planning wealth tax raid on middle-class workers to fix economy
31 Comments
Labour to relaunch pensions group over fears retirees will be ￡800 poorer by 2050
32 Comments
DWP issued state pension warning hours after major announcement
Comments
Rachel Reeves told to water down scheme that could hit thousands
Comments
Rachel Reeves takes major gamble as her future hangs in the balance
165 Comments
Discover Effortless Glucose Monitoring: Request a Free TrialDexcom | Sponsored Sponsored
Click Here
Undo
Rachel Reeves savaged by Reform as Chancellor warned a 'crisis' is incoming
17 Comments
Massive tax hikes 'looming' as Kemi Badenoch issues major warning
447 Comments
19 Semaglutide (Ozempic, Wegovy) Side Effects You Should Know About - GoodRxGoodRx | Sponsored Sponsored
Learn More
Undo
Tips to boost DWP State Pension and income beyond retirement
Comments
Rachel Reeves dealt massive new blow as she creates her own ￡20.7bn blackhole
91 Comments
What Guys in Ashburn Are Doing Different ly Behind Closed DoorsRex MD | Sponsored Sponsored
Learn More
Undo
Rachel Reeves 'considering tax raid' on pensioners after winter fuel U-turn
978 Comments
Rachel Reeves 'stealth tax' update as experts list 5 moves to outsmart it
4 Comments
Guys in Ashburn Can Get Cialis 100% Online - Big Pharma Doesn't Want You t...Rex MD | Sponsored Sponsored
Learn More
Undo
The 5 ways to protect your money from Rachel Reeves' tax raids
Comments
New calls for over-60s to be exempt from paying National Insurance
3 Comments
Experts Tested 17 Hearing Aids. Their #1 Pick Will Shock Youhear.com | Sponsored Sponsored
Undo
DWP State Pension looks set for another major change
9 Comments
Brits urged to check 9 things before State Pension age rises next year
Comments
Audiologists Tested 17 Hearing Aids. Here's What They Foundhear.com | Sponsored Sponsored
Undo
Major update on 'grossly unfair' pensions changes as Rachel Reeves set to press ahead
24 Comments
How many years you'll need to work to get full ￡230.25 weekly payout
6 Comments
Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored
Click Here
Undo
State pension age update as DWP makes huge announcement
515 Comments
State pensioners can avoid tax on pension legally and gain ￡694 a year
Comments
Dexcom G7 is proven to lower A1C and increase time in range3？？.Dexcom | Sponsored Sponsored
Undo
Households can claim up to 90% discount on water bills - check if you're eligible
1 Comments
Rachel Reeves accused of planning wealth tax raid on middle-class workers to fix economy
31 Comments
The Dress Shoe that Conquered ComfortWolf & Shepherd | Sponsored Sponsored
Order Now
Undo
Labour to relaunch pensions group over fears retirees will be ￡800 poorer by 2050
32 Comments
DWP issued state pension warning hours after major announcement
Comments
Guys in Ashburn Can Get Cialis 100% Online - Big Pharma Doesn't Want You t...Rex MD | Sponsored Sponsored
Learn More
Undo
Rachel Reeves told to water down scheme that could hit thousands
Comments
Rachel Reeves takes major gamble as her future hangs in the balance
165 Comments
Rachel Reeves savaged by Reform as Chancellor warned a 'crisis' is incoming
17 Comments
Massive tax hikes 'looming' as Kemi Badenoch issues major warning
447 Comments
Tips to boost DWP State Pension and income beyond retirement
Comments
Rachel Reeves dealt massive new blow as she creates her own ￡20.7bn blackhole
91 Comments
Rachel Reeves 'considering tax raid' on pensioners after winter fuel U-turn
978 Comments
Rachel Reeves 'stealth tax' update as experts list 5 moves to outsmart it
4 Comments
The 5 ways to protect your money from Rachel Reeves' tax raids
Comments
New calls for over-60s to be exempt from paying National Insurance
3 Comments
DWP State Pension looks set for another major change
9 Comments
Brits urged to check 9 things before State Pension age rises next year
Comments
Major update on 'grossly unfair' pensions changes as Rachel Reeves set to press ahead
24 Comments
How many years you'll need to work to get full ￡230.25 weekly payout
6 Comments
State pension age update as DWP makes huge announcement
515 Comments
What Guys in Ashburn Are Doing Differently...Rex MD
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Experts Tested 17 Hearing Aids. Their #1 Pick W...hear.com
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Audiologists Tested 17 Hearing Aids. Here's Wh...hear.com
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Dexcom G7 is proven to lower A1C and increas...Dexcom
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
June borrowing was higher than the ￡17.6 billion expected by most economists and the ￡17.1 billion forecast by Britain’s independent economic forecaster, the Office for Budget Responsibility (OBR).
Borrowing for the first three months of the financial year to date stood at ￡57.8 billion, ￡7.5 billion more than the same three-month period in 2024.
Richard Heys, acting chief economist at the ONS, said: “The rising costs of providing public services and a large rise this month in the interest payable on index-linked gilts pushed up overall spending more than the increases in income from taxes and national insurance contributions, causing borrowing to rise in June.”
Read Next
SUBSCRIBE Invalid email
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy