Shorter life expectancy in the UK brings back the pension age

The UK government have delayed plans to increase the pension age from 66 to 68 as a result of falling life expectancy.

Originally, the plan was to increase the state pension age to 68 after 2044 but reports have suggested that ministers were keen to action this between 2037 and 2039.

However, the work and pensions secretary has confirmed that no decisions will be made until after the next general election.

The Financial Times suggested that the delay arrives amidst fears that middle-aged voters will turn their backs on the Conservative Party.

Ministers are required legally obliged to evaluate planned changes to the pension system every six years.

Since the state pension age was last reviewed in 2017, life expectancy in the UK has decreased by two years.

The next review is due to take place in 2026.

 How do pensions work for interim workers?

If you’re working in an interim position, you will automatically be enrolled onto the company’s pension scheme. However, this isn’t always the case for interim workers, especially if you work for yourself.

Find out more about how interim pensions work in this helpful blog we wrote!

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