Millions of young people could face having to work an extra year before being able to draw a state pension, according to two separate reports.

Under projections drawn up by the Government Actuary’s Department (GAD), people aged under 30, face working until the age of 70 to qualify for a state pension compared to the age of 68 under current legislation.

A separate official review published by John Cridland, former director-general of the Confederation of British Industry (CBI), proposed that state pension age should rise to from 67 to 68 between 2037 and 2039, seven years earlier than originally planned.

The current state pension age – the earliest age that a person can start receiving their state pension - is 63 for women and 65 for men. It is due to rise to 65 for both by late 2018, 66 by 2020, and 67 by 2028.

However, experts said if the new recommendations were adopted , people in their 40s would face their state pension age being pushed back by an extra year. They warned those in their 30s and younger may eventually face the possibility of having to wait until they are 70 before being able to draw their pension.

The Government is under pressure to address the spiralling cost of the £100bn-a-year state pension, which is expected to increased further as a result of rising life expectancy and therefore the increasing ratio of pensioners to workers.

In Thursday’s report, Mr Cridland said the change is necessary to keep the State Pension “fair and sustainable”.

“My review considers the consequences of an ageing society[…]. The aim is to smooth the transition for tomorrow’s pensioners, and to try and make the future both fair and sustainable.”

Vince Smith-Hughes, retirement expert at Prudential, said that as a result of the proposed changes younger people will need to plan ahead.

They are likely to find their state pension age is significantly higher than they currently assume,” he said.

The 17 regions of the UK with the worst quality of life Show all 17 1 /17 The 17 regions of the UK with the worst quality of life The 17 regions of the UK with the worst quality of life 1 West Midlands Pylons are seen situated over a residential housing area in Birmingham Getty The 17 regions of the UK with the worst quality of life 2 East Yorkshire and North Lincolnshire A general view across Scunthorpe Getty The 17 regions of the UK with the worst quality of life 3 Shropshire and Staffordshire Aerial view of Wellington in Shropshire Rex The 17 regions of the UK with the worst quality of life 4 South Yorkshire A general view showing housing in Rotherham, South Yorkshire Getty The 17 regions of the UK with the worst quality of life 5 West Yorkshire Homes in Bradford, West Yorkshire Getty The 17 regions of the UK with the worst quality of life 6 Herefordshire and Worcestershire Houses located in the county of Worcestershire Getty The 17 regions of the UK with the worst quality of life 7 West Wales and the Valleys A general view of houses and homes in Aberystwyth, Wales Rex The 17 regions of the UK with the worst quality of life 8 Essex Housing in Basildon, Essex Rex The 17 regions of the UK with the worst quality of life 9 Kent A view of housing in Gravesend, Kent Rex The 17 regions of the UK with the worst quality of life 10 Greater Manchester A general view of traditional terraced houses in Manchester Getty The 17 regions of the UK with the worst quality of life 11 Cumbria Aerial view of Ambleside in the Lake District, Cumbria Rex The 17 regions of the UK with the worst quality of life 12 East Wales A view of Barry near Cardiff, in Wales Rex The 17 regions of the UK with the worst quality of life 13 Tees Valley and Durham Red brick back to back terraced houses in Dawdon, County Durham Rex The 17 regions of the UK with the worst quality of life 14 Inner London Residential tower blocks in an area with a high concentration of social housing in Southwark, London Getty The 17 regions of the UK with the worst quality of life 15 Derbyshire and Nottingham Terraced houses in the Lenton area of Nottingham Rex The 17 regions of the UK with the worst quality of life 16 Northumberland and Tyneside Apartments in North Shields near Newcastle Rex The 17 regions of the UK with the worst quality of life 17 South Western Scotland Portpatrick Harbour in Portpatrick, Scotland Rex

Steven Cameron, pensions director at Aegon said requiring everyone to wait until an “ever increasing age” to draw a state pension is “inflexible and increasingly outdated”.

“This is a missed opportunity to meet the needs of those who through health concerns, job pressures or lack of employment opportunity simply can’t keep working into their late 60s. We call on the Government to keep the door open to future change,” Mr Cameron said.