Speculation around whether the Department for Work and Pensions (DWP) would bring forward changes to the official retirement age have been circulating for some time. Now, The Secretary of State for Work and Pensions has confirmed that a review is “under way”.
Mel Stride MP told the House of Commons that he will consider a wide range of evidence, including two independent reports, to assess whether the “rules on pensionable age remain appropriate”, reported Daily Record. One report, from the Government Actuary’s Department, explores matters such as life expectancy. The other, from Baroness Neville-Rolfe, is on the metrics that should be taken into account in determining when the next increase in the State Pension age should occur.
The Department for Work and Pensions (DWP) boss said that the financial impact on pensioners would be taken into account. Age UK warns that accelerating the rise of the State Pension age “will condemn millions to a miserable and impoverished run up to retirement”.
