State Pension age to rise in UK based on 2 key factors | Personal Finance | Finance
The State Pension age is being reviewed early in the UK and will be determined by two key factors.The Department for Work and Pensions (DWP) normally conducts a review of the State Pension age every six years, but it launched an early review last year following concerns that adults aren't saving enough into private pensions for their retirement. According to DWP analysis, around 15 million people are undersaving for retirement, particularly the self-employed, low-paid, and some ethnic minorities. The DWP warned that pensioners will be £800 poorer by 2050, and the findings prompted an early review of the UK retirement age, despite the previous one having only been completed in 2023.The Government Actuary has now been commissioned to prepare a report on the State Pension age as part of th...










