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MORE RAPID AND AGGRESSIVE INCREASES TO THE STATE PENSION AGE "CANNOT BE RULED" AMID FEARS THE TRIPLE LOCK IS NOW TOO EXPENSIVE FOR THE LABOUR PARTY GOVERNMENT. 08:31, 29 May 2025 A
"rapid" state pension age rise to 70 "cannot be ruled out". More rapid and aggressive increases to the state pension age "cannot be ruled" amid fears the
Triple Lock is now too expensive for the Labour Party government. Recently, Denmark passed a law raising the nation's state pension age to 70 by 2040. Ann Widdecombe, the former
Conservative Party MP and current immigration spokesperson for Reform, has claimed it is "almost inevitable" Britain's retirement age will follow. Ed Monk, an associate
director at Fidelity International, explained: "It is then predicted to fall in the coming years - based on assumptions of cost and growth - but that is uncertain. READ MORE FOREIGN
OFFICE ISSUES 'IMPORTANT' WARNING FOR UK TOURISTS 'WHO HAVE HEALTH CONDITION' "The longer-term trend is clear. The Office for Budget Responsibility has forecast that
the total pensioner spending could rise to around eight per cent of GDP by 2072/73 - and potentially even more if the economy continues to suffer weaker and more volatile growth. Article
continues below "Further, or more rapid, rises cannot be ruled out but it would be hard to justify because improvement in life expectancy seem to have stalled. Reforming the triple lock
is another potential cost-saving measure - although all the major political parties promised to keep the measure for this parliament." Mr Monk added: "With the state pension
likely to come under increasing pressure, there is even more onus on individuals to fund their own retirement. Money paid into a pension normally benefits from tax-relief. "Employees
with access to company schemes can usually benefit from employer contribution made on their behalf. Ensure you make maximum use of any help on offer to improve your retirement prospects.
Article continues below "And while you may not be able to control the future rises in the state pension, you can make sure you have a full contribution history to ensure you get the
maximum available - whatever that turns out to be."