THE TORIES are planning to raise the retirement age in the UK in a "scandalous" move to boost Treasury coffers. 

It's understood that Chancellor Jeremy Hunt is considering raising the pension age to 68 by the end of the 2030s, reports have said.

The state pension age is already due to rise from 66 to 67 in 2028, while the increase to 68 was not due to happen until 2046.

However, the Sun reports that an upcoming review is set to bring this date forward to the 2030s, in a bid to raise billions for the UK purse.

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It’s understood that Chancellor Jeremy Hunt could announce the move as early as the Budget in March. However, the DWP insisted no decision had been made.

The SNP said the move would be "scandalous" and accused the Tories of another attack on state pensions. 

A government source told the newspaper: “There is a real risk that more people will die before they reach retirement and can draw their pensions, given the change in life expectancy projections since 2017 if we were to bring the state pension age increase too far forward.

"That would be especially true of people in the most deprived areas of the country where life expectancy is already lower.”

The National: Sunak's government is reportedly considering extending the retirement age to 68Sunak's government is reportedly considering extending the retirement age to 68 (Image: PA)

Tom Selby, AJ Bell’s head of retirement policy, added: “Rishi Sunak will be playing with political fire. The latest official data suggests average life expectancy improvements - the main justification for state pension age increases - have gone into reverse since the pandemic.”

David Linden MP, the SNP's social justice spokesperson, said: "This is just the latest in a long line of attacks from the Tories on the UK's state pension.

"In 2014, the people of Scotland were warned that the only way to protect their pensions was by voting No. 

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"Fast forward 9 years and the current state pension doesn't support the minimum standard of living, with the state age now set to rise to a staggering 68.

"This is scandalous, and must be condemned in the strongest possible way.

"Be in no doubt, for as long as Scotland remains under Westminster control, our pensions will continue to be under threat. 

"Only with the full powers of independence can we protect Scotland's pensions, and build a fairer, more prosperous country."

A DWP spokesperson said: "No decision has been taken on changes to the State Pension age.

"The Government is required by law to regularly review the State Pension age and the second State Pension Age Review is currently considering, based on a wide range of evidence including latest life expectancy data and two independent reports, whether the rules around State Pension age remain appropriate.

"The review will be published early this year."