28 March 2011
Harriett Baldwin asks for the Minister's comments on the Chancellor's propsoals for regular reviews of the state pension age. Harriett Baldwin (West Worcestershire) (Con): In his statement last Wednesday, my right hon. Friend the Chancellor said that he was hoping for
"a new, more automatic mechanism for future increases in the state pension age based on regular, independent reviews of longevity."-[ Official Report, 23 March 2011; Vol. 525, c. 961.]
With longevity increasing by about a year every year, that brought to my mind the vision of a cohort of people who might never actually reach pension age. Will the Pensions Minister comment? Steve Webb: Tempted though I am, we do not propose to abolish retirement. What my right hon. Friend the Chancellor said was that we need to take account in a more automatic way. I do not recognise the improvement of one year per year, although it is rising very rapidly. The key is that we need to do things with proper notice and make sure people have successful longer working lives and therefore build up bigger pensions when they come to draw them. | Hsnard