State Retirement Pensions: Females

(asked on 4th November 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of changes to the state pension age for women born in the 1950s on revenue accruing to the Exchequer from (a) income tax, (b) national insurance, (c) VAT and (d) other fiscal sources.


Answered by
Simon Clarke Portrait
Simon Clarke
This question was answered on 12th November 2021

No such estimate has been made of the effect of changes to the state pension age for women born in the 1950s on revenue accruing to the Exchequer.

The Government decided over 25 years ago that it was going to make the State Pension age the same for men and women.

Raising State Pension age in line with life expectancy changes has been the policy of successive administrations over many years

DWP estimate that the total additional cost if we had not implemented any increases in State Pension age would be in the region of £215bn for the period 2010/11 to 2025/26, in 2018/19 prices. This figure takes into account State Pension, other pensioner benefits, and savings made on .working age benefits.

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