State Pension age review: report by the Government Actuary
A report on how State Pension age timetables might change in future, based on projections of life expectancy in future years.
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The Pensions Act 2014 requires the government to review the State Pension age at least every 6 years. As part of this review, the Government Actuary must prepare a report for the Secretary of State for Work and Pensions about the State Pension age. The Government Actuary looks at whether the rules about pensionable age mean that, on average, a person who reaches pensionable age within a specified period can be expected to spend a specified proportion of their adult life in retirement. The report also looks at ways in which the rules might be changed with a view to achieving that result.
For this review, the Government Actuary was commissioned by DWP to assess the changes to the State Pension age under the current legislative timetable for the rise to 67 in 2026-28 and 68 in 2044-46, subject to consideration of the latest life expectancy projections. For the specified proportion of adult life in retirement, the Government Actuary was requested to consider three scenarios: 32%, 31% and 30%.
This report is published alongside an independent report (led by Baroness Neville-Rolfe) on other specified factors relevant to the review, and the government’s own review.