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Plan to raise state pension age to 68 must be postponed amid fears of stagnating life expectancy, ministers told
Ministers have been urged to postpone raising the state pension age to 68 in light of data suggesting that life expectancy is stagnating.
MPs across the House of Commons have expressed concern over reports that the government plans to bring forward the change in the retirement age from 2044 to 2030 – although ministers have stressed no decisions have yet been made.
The policy change could mean that up to 10 million people who are currently retiring at age 67 will have to work an extra year before they can access their pension pot.
MPs across the House of Commons have expressed concern over reports that the government plans to bring forward the change in the retirement age from 2044 to the 2030s
But MPs say data suggesting life expectancy has stalled means raising the retirement age would be unjustified.
Tory MP Nigel Mills said: ‘If we accept that we have to adhere to the principle that we get about a third of our adult life into retirement, then the reason why we would raise the state pension age is that we would have an increase of seen for three years. in life expectancy, which means we should be two years longer on state pension age.’
But data suggests men’s life expectancy fell by seven weeks between 2018 and 2020, while women’s life expectancy barely increased.
Mr Mills added: ‘If life expectancy does not increase as predicted, we need to react to the facts as they change and accept that our policy on expected changes in state pension age may also change.’