Think tank proposal

State pension age may rise to 75 ‘to allow older people to remain in work’

pension pot 2

Workers may work longer before claiming the state pension

The state pension age could be raised to 75 in response to a more active and able older population.

Conservative think tank, the Centre for Social Justice proposes the change over the next 16 years to help boost the UK economy.

The pension age is already set to increase to 67 by 2028 and 68 by 2016. In 2017 the government announced plans to increase the state pension age to 68 between 2037 and 2039. These latest proposals would see it extended to 70 by 2028 and 75 by 2035.

Raising the state pension age is needed, it is argued, as the pensions bill has swollen from £17 billion in 1989 to £92bn, making up £4 of every £10 of welfare spending.

The CSJ, co-founded by former Conservative leader and work and pensions secretary Iain Duncan-Smith, says there is evidence that the UK is “not responding to the needs and potential” of an ageing workforce, with hundreds of thousands of people aged 50 to 64 seen as “economically inactive”.

It recommends increased access to flexible working and training opportunities.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.