Government plans to accelerate the rise in state pension age (SPA) have been paused due to a fall in life expectancy and fear of voter backlash, it has been reported.
The SPA, currently 66, is set to rise to 68 from 2044, however, it was suggested earlier this year that the rise would be brought forward to 2035 with an announcement due in May. However, the Financial Times reported ministers have decided to postpone that decision until after the next general election. The paper said the move was linked to a fall in life expectancy. A government inside was quoted as saying minsters were "gung-ho" to raise the SPA but had now got "cold-feet". A Department for Work and Pensions spokesman the government was required by law to regularly review the SPA an...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
