Pensions: Age
(asked on 26th January 2021) - View Source
Question to the HM Treasury:
What plans he has to bring forward legislative proposals to introduce changes to the minimum age for withdrawing a private pension.
This question was answered on 26th January 2021
In 2014 the government announced it would increase the minimum pension age from age 55 to age 57 from 2028.
This increase reflects trends in longevity and encourages individuals to remain in work, while also helping to ensure pension savings provide for later life.
The 2014 announcement set out the timetable for this change well in advance to enable people to make financial plans and will be legislated for in due course.