The Department for Work and Pensions is calling for comments on its independent report into the U.K. state pension age.
The DWP wants the public and industry groups to respond to a number of questions and suggestions posed in the report, with the aim of ensuring that the state pension age is affordable and fair beyond 2028, at which point the state pension age is set to rise to age 67 from the current age of 65. The report is by John Cridland, who was appointed as the government’s independent reviewer of the state pension age in March. He will publish his final recommendations next spring.
The report focuses on three areas: affordability, fairness and the concept of fuller working lives, looking into how the government and industry can work to mitigate employees leaving the labor market early due to ill health and other factors. It asks 26 questions, including how the U.K. policy on state pension age could take other policies around the world into account, how to “best take into account the sensitivity of the life expectancy projections,” and alternatives to a universal state pension age.
The comment period runs until Dec. 31. The U.K. government reviews the state pension age during each Parliament, under the Pensions Act 2014.
The report has been welcomed by the industry. “There’s clearly a connection for savers between the state pension age and their own private pension provision, which is often linked to the state pension age,” said Graham Vidler, director of external affairs at the Pensions and Lifetime Savings Association, in a comment responding to the publication of the report.
The report is available on the government’s website.