The state pension age may have to rise to 71 – when can you retire?

A shrinking workforce is set to hit funding for the benefit, which could mean a longer wait for payments

Glasses on top of blocks spelling pension
Men and women can claim the UK's state pension at 66 but that is due to rise to 67 from 2026 to 2028
(Image credit: 07LEO/Getty Images)

From round-the-world cruises to more time playing golf, there is plenty to look forward to when you retire but millions of people may have to wait longer to receive their state pension.

New research from the International Longevity Centre (ILC) has warned that a shrinking workforce – due to Britons' ill-health "long before they reach state pension age" – is hitting the tax base used to pay for pensions.

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Marc Shoffman is an NCTJ-qualified award-winning freelance journalist, specialising in business, property and personal finance. He has a BA in multimedia journalism from Bournemouth University and a master’s in financial journalism from City University, London. His career began at FT Business trade publication Financial Adviser, during the 2008 banking crash. In 2013, he moved to MailOnline’s personal finance section This is Money, where he covered topics ranging from mortgages and pensions to investments and even a bit of Bitcoin. Since going freelance in 2016, his work has appeared in MoneyWeek, The Times, The Mail on Sunday and on the i news site.