Middle-Aged Could Face Wait Until 71 For Pension

MILLIONS of middle-aged workers could be forced to wait until they are 71 before they qualify for their state pension, according to a shock report.

- Sarah O'Grady

The number of pensioners is set to far outnumber those of working age making the cost of the pension unsustainable, it is claimed.

Between 2000 and 2050, the dependency ratio- the proportion of the population aged 65 or over compared to those of working age- is projected to rise from 21.2% to 51.1%.

And to make the pensions bill affordable for the younger generation of taxpayers, those people born in the 1970s will have to work longer.

The International Longevity Centre analysis prompted calls from one of the UK's biggest pension companies for both Government and opposition politicians to detail their plans over the future of the state pension.

Kate Smith, head of pensions at the firm, said: Aegon "This report will be concerning for millions of people.