The Secretary of State for Work and Pensions has confirmed that a review of the State Pension age 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”.
One report is from the Government Actuary’s Department and 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, following concerns raised by SNP MP, Patrick Grady. He said: “I hope that the evidence that the Secretary of State examines includes analysis by Age UK that 1.5 million pre-State Pension age households have no savings at all.”
