State pension age change means Britons must ‘act now’

He explained: “Unlike the state pension age, there isn’t a universal answer to the question of what constitutes the normal minimum retirement age.

“The working lives in some professions can be short and pushing back the private pension age sooner than expected means that many savers will need to act now to account for the lost year of private pension access.

“By our calculations, this amounts to over £13,000 for a no-frills standard of living at retirement.

“Many savers will be forced to rethink how their assets are spread between their pensions, ISAs and other savings.”