The Government is facing calls to scrap the state pension age and hand savers greater flexibility over when they can access the payment.
Under current rules taxpayers are forced to wait until a specific age, set by Government, before drawing their state pension.
The state pension age for men and women will be equalised at 65 by November 2018 before rising to 66 in 2020 and 67 in 2028.
The Department for Work and Pensions has also set out plans to radically simplify the system by introducing a flat-rate, single-tier state pension worth around £144 a week for future retirees in April 2016.
Research of 2,000 UK adults carried out by PricewaterhouseCoopers reveals more than four in 10 people want greater choice over when they can start drawing their state pension.
A quarter of respondents said they would accept receiving a reduced state pension if they could retire earlier as a result.
PwC head of pensions Raj Mody says: “The current policy of gradually increasing a single state pension age focuses on overall life expectancy, but doesn’t take account of variations for different socio-economic groups and regions.
“Rather than prescribing when people can access their state pension, people should be allowed a degree of choice based on their individual circumstances.
“If the terms are set right, this approach will ultimately produce significant savings and greater sustainability of costs for the Government in the long-term – especially if life expectancy increases dramatically for some parts of the population.
“A more flexible state system completes the fundamental pensions reform George Osborne is keen to deliver and will bring pensions and retirement savings firmly into the modern age where people want flexibility, choice and control.
“We need to create a state pensions system which is fairer, more stable and sustainable in the long term. Scrapping the state pension age and replacing it with a state pension window will produce better outcomes for people, companies and the Government.”