IMF Suggests State Pension Age Must Increase Further

Published / Last Updated on 19/11/2018

Increase Pension AgeThe qualifying age for a state pension is 65 but this is set to rise to 66 by 2020 and then 67 by 2028, as people are now living longer.

The International Monetary Fund (IMF) has warned the UK needed to make more provisions for health and pensions for the future and suggests state pension ages may have to raise the age again into the 70’s.

The IMF are also suggesting that the UK should stop the ‘triple lock system’ where pensions are increased yearly by 2.5% or by the consumer price index measure of inflation whichever is bigger.