George Osborne: 'Pension age should track life expectancy'

Chancellor George Osborne has confirmed that the date the state pension age rises to 68 will be brought forward, meaning millions may have to work longer.

He said the pension age should track life expectancy so that people expected to spend up to a third of their adult life in retirement.

"This is one of those difficult decisions governments have to take if they're serious about controlling the public finances," he continued, "future tax payers will be saved around £500bn."