DWP Review Suggests State Pension Age May Rise To 70

The state pension age, currently 66, is set to rise to 67 by 2028 and 68 by 2044–46. However, a freshly announced state pension age review has sparked speculation it could climb even higher—possibly reaching 70—forcing many to work significantly longer to retire.

Background & Official Review

Under legislation, the Department for Work and Pensions (DWP) must review the pension age periodically. The latest review, launched in July 2025, will deliver findings by March 2029.

The Government Actuary’s Department will analyse life expectancy data and assess whether pension timing ensures a fair proportion of life spent in retirement.

Simultaneously, a revived Pensions Commission, chaired by Baroness Jeannie Drake, will evaluate broader retirement adequacy and savings gaps.

Possible Leap to Age 70

Experts suggest that to maintain financial sustainability, the pension age could continue rising beyond 68—potentially reaching 70. This reflects concerns over mounting expenditure, which is projecting to soar as Britain ages.

Pension Spending Pressures

Metric	Current / Projected Value
State Pension Age (current)	66 years
Upcoming Increases	67 by 2028; 68 by 2044–46
Possible Future Leap	Up to 70 years
Annual Cost (2023/24)	~£124 billion (~5% of GDP)
Projected Cost Impact	Could double pension expenditure as share of GDP

Pension costs are already straining the public purse—forecasted to rise significantly over the coming decades.

Why the Review Matters

• Longevity Trends: As life expectancy increases, people spend more years in retirement—raising sustainability concerns.
• Financial Strain: Soaring pension payouts demand long-term cost-saving solutions, with raising the age being one.
• Public Savings Gaps: With nearly half of working-age adults not saving adequately, reliance on state pensions is intensifying.
• Political Sensitivity: While reforms are needed, pushing retirement later raises concerns about fairness, especially for physically demanding professions.

Voices and Reactions

While officials insist the triple lock remains in place and off-limits for this review, the potential rise in pension age has ignited public debate:

• Supporters argue it’s necessary to keep the system sustainable.
• Critics warn it may place undue hardship on those in poor health or physically intensive jobs—particularly without equivalent boosts to private pensions or savings support.
• The Pensions Commission aims to balance long-term fiscal responsibility with fairness and adequacy.

The DWP’s state pension age review signals a pivotal moment: with rising costs and shifting demographics, retirement could start at age 70 in the future.

The review, expected by March 2029, will determine whether Britain must work longer to ensure pension sustainability. Individuals, especially younger generations, are urged to plan early—by saving more or reviewing career expectations—to adapt to possible delays.

FAQs