Plan to raise pension age should be delayed as life expectancy is stalling

Plan to put state pension age up to 68 should be delayed amid fears that life expectancy is stalling, ministers are told

Ministers have been urged to delay a rise in the state pension age to 68 in the light of data that suggests life expectancy is stalling.

MPs from across the Commons have raised concerns over reports the Government is planning to bring forward the pension age change from 2044 to the 2030s – although ministers have stressed no decisions have been made.

The policy change could force up to 10 million people currently due to retire at 67 to work an extra year before they can access their pension pot.

MPs from across the Commons have raised concerns over reports the Government is planning to bring forward the pension age change from 2044 to the 2030s

But MPs say data suggesting life expectancy has stalled means any rise to the pension age would be unjustified.

Tory MP Nigel Mills said: ‘If we accept that we should stick to the principle that we get roughly a third of our adult life in retirement, the reason why we would increase the state pension age is that we have seen a three-year increase in life expectancy, and that should give us two more years on the state pension age.’

But data suggests that from 2018 to 2020, men’s life expectancy fell by seven weeks, while women’s life expectancy has barely risen. 

Mr Mills added: ‘If life expectancy data is not going up, as has been forecast, we should respond to the facts as they change and accept that our policy on expected changes to the state pension age can change as well.’

State pension age timetable

A plan to hasten the state pension age rise to 68 by 2035 has sparked warnings that ill and poor people and carers will bear the brunt of the hike.

Younger generations are also likely to struggle, as industry analysis reveals the state pension plus minimum auto enrolment savings mean they will barely scrape together a decent income in old age. 

Men and women’s state pension age is now 66 and between 2026 and 2028 it will rise again to 67. 

But the Government will reportedly announce an earlier-than-expected state pension increase to 68, possibly in the Budget on 15 March, in a move that would affect those born between 1968 and 1979.

The existing timetable for the state pension age can be found here in our guide.

> State pension age: When can you retire?