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​New Report Proposes Increase Of UK Pension Age To 75

​New Report Proposes Increase Of UK Pension Age To 75

The new report comes from Conservative think tank, the Centre for Social Justice

Jess Hardiman

Jess Hardiman

A new report from a Conservative think tank has proposed an increase of the UK pension age to 75 by 2035.

The pension age is already set to increase to 67 by 2028 and to 68 by 2046, but the Centre for Social Justice (CSJ) wants to see changes implemented at a much quicker rate - having outlined a proposal for the pension age to increase to 70 by 2028 and 75 by 2035.

In the new report, the CSJ - co-founded by former Conservative leader and work and pensions secretary Iain Duncan-Smith - said there is evidence suggesting the UK was not 'responding to the needs and potential' of an ageing workforce.

It also said there are hundreds of thousands of people aged between 50 and 64 regarded as 'economically active'.

PA

The report, titled 'Ageing Confidently: Supporting an ageing workforce', explains that the changes would only be put in place with support for workers and employers, such as increased training opportunities and access to flexible working.

"Removing barriers for older people to remain in work has the potential to contribute greatly to the health of individuals and the affordability of public services," the report said.

"Therefore, this paper argues for significant improvements in the support for older workers.

"This includes improved healthcare support, increased access to flexible working, better opportunities for training, an employer-led mid-life MOT and the implementation of an 'Age Confident' scheme.

"As we prepare for the future, we must prioritise increasing the opportunity to work for this demographic to reduce involuntary worklessness.

"For the vulnerable and marginalised, a job offers the first step away from state dependence, social marginalisation and personal destitution.

PA

"In addition, provided that this support is in place, we propose an increase in the state pension age to 75 by 2035.

"While this might seem contrary to a long-standing compassionate attitude to an older generation that have paid their way in the world and deserve to be looked after, we do not believe it should be.

"Working longer has the potential to improve health and wellbeing, increase retirement savings and ensure the full functioning of public services for all."

However, ex-pensions minister Ros Altmann is against the proposed plans, having said the changes would be 'an utter disgrace' and 'must not be allowed to happen'.

She tweeted: "Reports of state pension age rising to 75 are shocking.

"Major changes in pension attitudes required due to big life expectancy differentials. Using age as a strict cut off is not good policy."

Featured Image Credit: PA

Topics: uk news, News