The Pensions Policy Institute has been researching the issue of raising the state pension retirement age to 70 and the implications of doing so. The report will be published towards the end of this month.
Government demographic figures predict that by 2040 there will be 4.9 million people aged over 80 and the number of people over pensionable age will reach over 16 million. The report 'Raising State Pension Age - Are We Ready?' should support the government figures.
Experts believe that the state pension age should be reviewed. Some say that the state pension retirement age should be raised to 70 and that retirement should be left up to the individual.
In the Simplification Review, Alan Pickering commented that the government must decide whether it wants to pay money to someone who may or may not have retired.In March 2002, a report by the Public Policy Research, suggested that the state pension retirement age should be raised to 67. Search the archive for previous pensions stories.
Visit the State Pensions section in the Pensions Adviser.com.Did you know the female state pension age is now between 60 and 65 depending upon when you were born. Try our female state pension calculator.