Overview

• Tom McPhail proposed setting state pension entitlement at about 75 in a Times article, arguing for a radical reset to keep the system sustainable.
• The Labour government has relaunched a Pensions Commission to examine future pension-age changes and related mechanisms, with no decisions announced.
• Under current law the state pension age is 66, rising to 67 by 2028 and to 68 in the 2040s.
• The Office for Budget Responsibility says the triple lock now costs about £15.5 billion annually, compared with earlier estimates of £5 billion.
• Coverage cites projections of people reaching pension age rising from 12.6 million in 2025 to 19.5 million by 2075, with state pension spending approaching 7.7% of GDP.