State Retirement Pensions: Age

(asked on 20th July 2017) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what estimate his Department has made of the number of adults who would have to work longer as a result of proposals in the Cridland Review.


Answered by
Guy Opperman Portrait
Guy Opperman
Parliamentary Under-Secretary (Department for Transport)
This question was answered on 6th September 2017

We estimate that 6 million people in Great Britain would be affected by bringing forward the rise in State Pension age from 67 to 68 from 2044-46 to 2037-39 (those born between 6 April 1970 and 5 April 1978). These people would see their State Pension age increased by up to one year.

For those who can work longer, doing so brings benefits both for individuals, through sustaining social networks and boosting subsequent retirement income, and for the economy. Research carried out in 2013 showed that, if everyone worked for one year longer, it would add 1% to GDP.

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