Autumn Statement 2013: Govt confirms accelerated state pension age rise

More workers will have to wait until age 68 for their state pension after the Chancellor confirmed entitlement rules would change quicker.

The current state pension was due to rise from 65 to 68 in 2046, but George Osborne said the date will now be brought forward to the mid-2030s. He also said the state pension age could rise again - to 69 - at some point in the 2040s. This means people in their 20s today could be have to work into to their 70s before being eligible for state pension benefits. No changes were made to the minimum age you can access private pension savings, which remains at 55. He also said the basic state pension will not be included in the overall welfare/benefit spending cap. Osborne said toda...