"This will affect people in their forties and below; no-one over 50 will have a retirement age of 68 or more."
A review of the way the State Pension age is calculated, announced earlier this year, will be informed by "up-to-date" life-expectancy figures.
A government source said: "This is part of the government's long-term plan to secure a responsible recovery.
"It is a difficult decision to make sure there is a fair deal across future generations and that the country can live within its means.
"It will help make sure the country can offer people decent pensions in their old age in a way that with increasing life expectancy the country can also afford."
State Pension age framework
19 December 2013
As announced in the Autumn Statement, further details of the State Pension age framework have been published detailing how this may work in practice.
The State Pension Age framework forms part of the Pensions Bill, currently going through Parliament, setting out the guiding principle the government believes should underpin the framework. The principle is that people should expect to spend, on average, up to a third of their adult life in receipt of the State Pension.
The Department for Work & Pensions (DWP) has published information which sets out the details of how this principle may work in practice:
Reviewing the State Pension age – contains information about the policy around State Pension Future State Pension age rises: DWP background note - sets out how the principle may work in practice. There are no changes to the State Pension age timetable as a result of this announcement. Future governments will keep the State Pension age under review, and will legislate as necessary for any changes. As well as life expectancy, the State Pension age review will take into account evidence from an independently-led review, which will look into wider factors relevant to setting State Pension age. The Government intends that individuals affected by changes to their State Pension age should be given at least ten years’ notice.
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