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Pension age could rise further, says The Pensions Regulator's chairman

The state pension retirement age could end up higher than 68, according to the chairman of The Pensions Regulator David Norgrove.

Norgrave has said millions of workers would "undoubtedly" have to wait longer to draw a state pension. He added: "People are going to have to work longer, partly because we are not going, as a nation to save save for retirement as we did in the past... The Government's recent legislation is increasing the state retirement age progressively to 68. I think it will end up higher than that.

The state pensions age is currently 65 for men and 60 for women, but the Turner Report advised it rise to 68 by 2044.

Norgrave added retirement age would become a "real issue" over the next 30 years, because people were "frightened" to save for their future. "They think pensions are very complicated. Actually pensions in many ways are quite simple. Once you have made the initial decision you can let it run," he said.