The publication of a much anticipated independent report has suggested millions of people will be working for longer before claiming their state pension.

The report authored by John Cridland, former director-general of the Confederation of British Industry, says the state pension age should rise to 68 by 2038 instead of by 2046.

Elsewhere in the report, he recommends the 'triple lock' for state pension increases is scrapped in 2020.

Another report, produced by the Government Actuary's Department, has suggested a state pension age of 70 for anyone currently under age 30.

Government ministers will now consider these reports and decide what should happen to the state pension age.

With rising life expectancy, the cost of funding the state pension is placing a growing burden on the public finances. It was always expected that the state pension age would need to rise faster than the existing timetable, to make this benefit affordable and sustainable.

It is though worth remembering that healthy life expectancy is not keeping pace with improvements to life expectancy, so many people are already being forced to retire earlier than their state pension age.

In addition, there are big demographic differences when it comes to life expectancy, which makes a 'one size fits all' approach to the state pension age unfair for those who live in the poorest areas or undertake manual work.