The Government has delayed plans to increase the state pension age to 68 following a drop in life expectancy.
The state pension age will still rise from 66 to 67 by the end of 2028, but the Government will now conduct another review within two years to reconsider a further hike.
The 2014 pension act requires the secretary of state for work and pensions to regularly review the state pension age. This depends on several factors, including life expectancy rates and the proportion of adult life spent in retirement.
While estimates suggest that the number of people over 67 will rise from 12m to 18m between 2025 to 2070, the increase in life expectancy has slowed.
Life expectancy at age 65 was previously projected to reach 27.3 years by 2060, but the latest projections suggest it will only reach 24.4 years.
In light of the review's findings, the Government said it is taking action to tackle "growing inequalities" in life expectancy outcomes.
Secretary of State for Work and Pensions Mel Stride added:
"It's essential the state pension remains sustainable and fair across the generations. Our balanced approach will help achieve this and ensure we continue to provide security and dignity in retirement for millions of people across the country."
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