Britain will most likely increase the state pension age to 67 by 2026, a report published in the Observer revealed.

The Observer said that Pensions minister Steve Webb told it that the coalition wanted to accelerate the rate at which the state pension age increases to compensate for escalating longevity and the increasing cost of benefits.

The Observer said the pensions' minister said that the government would scrap previous plans to increase the state pension age to 67 by the year of 2036 and to 68 by the year of 2046.

Quoting Mr. Webb, the newspaper reported, "The time scales for 67 and 68 are too slow . Everybody knows we are living longer."

If the government increases the state pension age to 67 by 2026, as many as 8 million Britons, who are currently in their 40s, and are expecting to retire at the age of 66.

Ministers are already advancing with the pensions' bill which will increase the age at which Britons can claim a pension to 66 by 2020.

The plans will definitely enrage unions, which are already opposing the government's plans to hike in public sector workers' pension contributions.