A prominent economist has called for the state pension age to increase to 75, following warnings that the triple lock is spiralling out of control. Work and Pensions Secretary Liz Kendall is currently conducting a state pension review, which Rachel Reeves acknowledged would assess the eligibility age.

The Institute for Fiscal Studies (IFS) warned that without a triple lock reform, state retirement age could rise to 69 by 2049, and to 74 by 2069, due to mounting financial pressure. Now, Tom McPhail, who presents the Pensions Monkey podcast, has argued that workers should live off their own savings until age 75, and then be able to access the state pension

So what do you think? Should the state pension be taken away from people younger than 75?

Mr McPhail wrote in The Times: “With people living longer and healthier lives, it makes sense to think carefully about when state support should begin. Otherwise, the system may simply become unsustainable.”

“Send a clear message: your private savings are to cover the gap between stopping working and age 75,” he added.

It comes as costs for state pensions are spiralling under the triple lock, which the Office for Budget Responsibility (OBR) said is now projected to cost three times the original estimate by 2030, rising to £15.5billion annually.

Ms Kendall will assess whether the age is still appropriate in the state pension review, considering factors like life expectancy and longevity, and it is due to be completed by 2029.

The eligibility age is set to rise to 68 between 2044 and 2046 under existing legislation, but a review could bring this forward. The current retirement age of 66 will rise to 67 between 2026 and 2028.