A new online petition is calling on the UK Government to stop scheduled increases to the State Pension age and keep it at its current 66 due to declining life expectancy in Scotland. The next planned rise is to 67, which will be phased in between 2026 and 2028.
The increase to 67 has been in legislation since 2014, but there had been speculation earlier this year it would increase to 68 earlier than expected in the mid 2040s. However, in March, Work and Pensions Secretary Mel Stride MP told the Commons that this move would not be decided until a new review is conducted two years after the next general election takes place in 2024.
The ‘Stop the planned increase in the State Pension age, leave it at 66’ petition has been created and posted on the official petitions-parliament website by Clive John Chessman where it has already received more than 1,300 signatures of support from across the country. At 10,000 signatures, the UK Government will respond to its proposal.
The petition states: “We want the Government to reverse plans to increase the age at which people become eligible for the State Pension, first to 67, then to 68. We believe the State Pension age should remain 66.
“The planned increase was based on life expectancy increases, but in Scotland life expectancy has decreased and in the rest of the UK has not gone up as expected.”
Planned increases to the State Pension age must be communicated at least 10 years in advance. This could potentially see a rise to 68 occur as early as 2036 - if the review after the general election finds good reason to do so.
At the time of the announcement to delay a review of the rise to 68, former pensions minister Baroness Ros Altmann said: "The Government is right to recommend a wait-and-see approach, with further studies to understand better the full impact of both Covid - and the consequential backlogs in the healthcare system - on previous forecasts for life expectancy.
"With doubts having been raised about the trajectory of life expectancy forecasts, as well as the evidence of huge differentials across the country in healthy life expectancy, I do not believe it is safe to accelerate the rise in State Pension age unless it also introduces more flexibility to the starting age."
Lady Altmann added: "Cutting costs would be the only reason to press ahead with accelerating the state pension age timetable and I am pleased to see this factor has not overridden social concerns."
The Institute for Fiscal Studies (IFS) has suggested that the cost to the Exchequer of not introducing a rise in the state pension age from 67 to 68 from the late 2030s could be around £8 billion to £9 billion per year. You can find out when you will be able to retire using the online tool at GOV.UK here.
The petition is open until September 20, 2023.
To keep up to date with the latest State Pension news, join our Money Saving Scotland Facebook page here, follow us on Twitter @Record_Money, or subscribe to our newsletter which goes out Monday to Friday - sign up here.
READ NEXT
How to boost State Pension payments before and after you reach retirement age
Benefits older people can no longer claim when they reach State Pension age
- Martin Lewis shares simple way people nearing retirement age can boost State Pension by £500 each year
New DWP plans to target more older people who may be due £3,500 income top-up
