Pension age ‘looks set to increase’

28 November 2016

The State Pension Age looks set to increase again, former Pensions Minister Steve Webb has warned, after the government requested new figures that suggest it intends to expand the expected working age.

Current policy is that Britons are asked to work for two-thirds of their life, with 33.3% of their expected longevity devoted to retirement, but the Department for Work and Pensions earlier this month requested figures on those who spend only 32% of their life on a pension.

Speaking to the Guardian, Webb described this as an “unexpected move” that suggests the government is considering making workers currently in their 20s say in their jobs until the age of 70.

“If the government is planning to force tens of millions of people to work to 68, 69 or even 70, then it should be transparent about its plans. This would be a huge shift and should be properly debated, not buried in a technical document seen only by specialists,” he told the news source.