A planned rise in the State Pension age to 68 will not be decided until a new review is conducted two years after the next General Election. Work and Pensions Secretary Mel Stride told the Commons on Thursday that he agreed the planned increase in the State Pension age from 66 to 67 should go ahead between 2026 and 2028, a move that has been in legislation since 2014.
MPs heard an independent report has recommended the rise from 67 to 68 should take place between 2041 and 2043, four years later than previously accepted by the UK Government but still earlier than set out in legislation. Mr Stride said the current rules for the increase to 68 “remain appropriate”.
But the minister also noted he is “mindful a different decision” might be needed once a further review is conducted within two years of the next Parliament. This review would assess various factors including life expectancy and public finances. The next election is expected to take place in 2024.
