Britons warned UK state pension ‘will have to be lower and paid later’ as system ‘can’t cope’

UK state pension spending is projected to cost £125billion for 2023/24, according to the Office for Budget Responsibility (OBR) Working-age Britons face getting a lower state pension and having to wait longer to get it because the current state pension system “can’t cope” with an ageing population, an expert has warned. Chief executive of life insurer Phoenix Group Andy Briggs is urging Britons to prepare for the future now, as he warns dramatic reform could lie ahead. Mr Briggs said the UK state pension...