UK considers raising state pension age to 70 or 80 due to rising life expectancy and costs.

The UK may need to raise the state pension age to 70 or even 80 due to rising life expectancy and increasing costs, according to financial experts. Chancellor Rachel Reeves is considering a review of the current plan, which is set to raise the pension age to 68 by 2048. Experts warn that without changes, the cost of the state pension could reach £200bn by 2073, putting pressure on the system's sustainability. Meanwhile, pensioners are set to receive increases and additional support worth up to £470 per year, starting in April 2025.