This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/uk-politics-25225532

The article has changed 11 times. There is an RSS feed of changes available.

Version 1 Version 2
Autumn Statement: Plan to raise state pension age sooner Autumn Statement: State pension age rise brought forward
(about 5 hours later)
The date when people must be 68 to draw a state pension - formerly scheduled for 2046 - will be brought forward to the mid-2030s, Chancellor George Osborne will announce later. More people will have to work until they are 68 before being entitled to a state pension under plans to be announced by Chancellor George Osborne.
Plans to be announced in Mr Osborne's Autumn Statement mean the age could rise again to 69 by the late 2040s. The current state pension age was set to change from 65 to 68 in 2046.
The alteration is said to be deemed necessary as life expectancy is rising. But that date will be brought forward to the mid-2030s, Mr Osborne will say in his Autumn statement.
The pension age could rise again to 69 in the late 2040s, he will add, meaning people now in their 20s may have to work until they are 70.
Moving the change forward will ensure "the country can offer people decent pensions", a government source said.Moving the change forward will ensure "the country can offer people decent pensions", a government source said.
The move would affect people now aged in their 40s and below.
Mr Osborne is due to deliver his statement to the House of Commons at 11:15 GMT. Among the measures reported so far are:Mr Osborne is due to deliver his statement to the House of Commons at 11:15 GMT. Among the measures reported so far are:
A new formula will increase the state pension age to keep pace with increasing life expectancy.A new formula will increase the state pension age to keep pace with increasing life expectancy.
The government will say that people should spend on average no more than one-third of their adult lives in retirement.The government will say that people should spend on average no more than one-third of their adult lives in retirement.
This means people now in their 20s would have to work until they are 70, many observers believe.
The BBC has also learned that the chancellor will cap business rate increases in England and Wales to 2% next year, rather than the rate of inflation, in an effort to boost firms and High Streets.The BBC has also learned that the chancellor will cap business rate increases in England and Wales to 2% next year, rather than the rate of inflation, in an effort to boost firms and High Streets.
The government has already announced the state pension age will increase to 66 by 2020 and 67 by 2028; these dates will not change.The government has already announced the state pension age will increase to 66 by 2020 and 67 by 2028; these dates will not change.
But it said in a statement: "Under current estimates of life expectancy the principle being confirmed today implies the SPA (state pension age) rise to 68 could come forward to the mid-2030s, from its current date of 2046, rising to 69 by the late 2040s.But it said in a statement: "Under current estimates of life expectancy the principle being confirmed today implies the SPA (state pension age) rise to 68 could come forward to the mid-2030s, from its current date of 2046, rising to 69 by the late 2040s.
"This will affect people in their forties and below; no-one over 50 will have a retirement age of 68 or more.""This will affect people in their forties and below; no-one over 50 will have a retirement age of 68 or more."
A review of the way the state pension age is calculated, announced earlier this year, will be informed by "up-to-date" life-expectancy figures.A review of the way the state pension age is calculated, announced earlier this year, will be informed by "up-to-date" life-expectancy figures.
A government source said: "This is part of the government's long-term plan to secure a responsible recovery.A government source said: "This is part of the government's long-term plan to secure a responsible recovery.
"It is a difficult decision to make sure there is a fair deal across future generations and that the country can live within its means."It is a difficult decision to make sure there is a fair deal across future generations and that the country can live within its means.
"It will help make sure the country can offer people decent pensions in their old age in a way that with increasing life expectancy the country can also afford.""It will help make sure the country can offer people decent pensions in their old age in a way that with increasing life expectancy the country can also afford."
* The BBC will have full coverage of the Autumn Statement with live text and video and analysis on the BBC News website, coverage all day on the BBC News Channel, a BBC2 special programme from 11:00 - 14:00 GMT and a BBC Radio 5 Live special from 11:15 - 14:00 GMT