The state pension drifts further away

Millions of Britons born between 1970 and 1978 will have to wait up to a year longer than expected to claim their state pension benefits under proposals unveiled last week. The government intends to implement the recommendations of former Confederation of British Industry boss John Cridland, whose report into the expense of state pensions concluded earlier this year that the current projected costs were not sustainable.

This means that plans for an increase in the state pension age (SPA) from 67 to 68 – previously scheduled for introduction between 2044 and 2046 – will now [...]