The forthcoming report from the UK's Pension Commission is likely to recommend increasing the country's retirement age to 67 years, according to a story in the press.

The commission, chaired by the former Confederation of British Industry chairman Adair Turner, is also set to suggest a system of automatic enrolment into a new pensions savings system akin to that about to be launched in New Zealand. Workers will however retain the option to opt out of this scheme.

The Pension Commission’s report is due to be released formally at the end of November 2005, however these outline details have been leaked to the Financial Times newspaper.

According to the paper’s report, the commission will advise the state pension be radically increased, with an increase in state pension age and a possible rise in taxes possibly needed to pay for this.

A spokeswoman for the Pension Commission told the BBC that the body would make no comment ahead of the report’s publication on November 30.