Live news stream
This was always going to happen, it was just a question of how and when it was unveiled. There are provisions in the pensions bill for the SPA to be linked to life expectancy. Currently, the SPA will rise to 67 by 2028 but will then pause before rising to 68 between 2044 and 2046. This was already widely acknowledged as being too late and too slow.
– Tom McPhail, Head of Pensions Research, Hargreaves Lansdown
Given current low levels of private savings and improvements in life expectancy, it was unrealistic for those in their 40s and younger to expect that they wouldn’t see their State Pension Age rise again above age 67. In reality, many in work today are already unlikely to be able to afford to retire until their 70s, irrespective of when their state pension falls due.
Prominent Labour MP Tom Watson has admitted to an "embarrassing mistake" tonight after voting the wrong way on changes to rules surrounding Fixed Odds Betting Terminals (FOBTs) - an issue he had personally led a campaign on.
In a blog post after the result, Mr Watson admitted this was the worst time to make such a mistake - but insisted it was "bound to happen" at some point in his Commons career.
He said: "I voted the wrong way as my head said put the cross in the 'no' box but my hand put the cross in the 'yes' box.
"On most days few would notice this act of tiny rebellion. Except this was the day in which I made the front page of the Daily Mail, leading the campaign against FOBTs.
Mr Watson was initially even more shocked after first thinking the vote had been lost by only one vote - joking he almost "jumped in the Thames".
Under the new pension plans:
- People now in their forties will have to wait until 68 to retire
- A further rise in the state pension age to 69 is expected to take place by the late 2040s, hitting people now in their early thirties
The delayed retirement dates will help save around £400 billion from the national bill for pensions, on top of the more than £100 billion already banked from planned rises to 66 by 2020 and 67 by 2028, which are unchanged.
Possibly as you would have expected we've had the bad news tonight including announcing that they are going to raise the pension age.
So 69 is the top level now which will kick in in the 2040s which will save them a great deal of money and give them a bit of room for manoeuvre tomorrow.
We will get the good news tomorrow. It's an important day for George Osborne the polls say a lot of people do give the Conservatives credit for handling the economy, but they are not sure they will benefit during the recovery - and that's what he has to start to nail down tomorrow.
The government will bring forward a planned rise in the retirement age as part of the Autumn Statement tomorrow.
The rise was due to take effect in 2046 but will be brought forward to sometime in the decade before:
Govt is bringing forward the planned rise in retirement age (to 68). Nobody over 50 affected, but people in 40s beware. #autumnstatement
Instead of going up in 2046, it'll rise sometime in 2030s. Subsequent rise to 69 will also be brought forward. #autumnstatement
For those asking, average age of MP in this parliament is 50, so a fair few will be affected by rising retirement age. #AutumnStatement
Scotrail have confirmed there will be severe delays and cancellations across the service tomorrow starting at 6am.
Gale force winds of up to 95mph are expected to batter northern Britain tomorrow.
Tomorrow's severe weather will mean that for safety's sake a reduced train service will operate. Please check before you travel tomorrow.
Check the reduced services timetables here.
It is believed that George Osborne will announce a rise in the pension age for the young during tomorrow's Autumn Statement:
Sounds like tmrw's statement big announcement is increasing pension age for younger generation to 70
Gilles Rousseau, whose daughter Lauren, a substitute teacher, was killed in the Sandy Hook school shootings, supported the decision to release the 911 call recordings.
Speaking to ITV News before their release, he said: "Personally, I think it's better to have it released because then the world will know what was in the tape. They'll know that the police is not hiding anything.
"I would like to know exactly what was in the tape. The only thing that I'm hoping for is that I don't hear my daughter screaming," he added.
"That's one of the reasons the young families did want to hear their kids screaming. They were afraid they were going to recognise their particular child, and that would be heart-wretching."