Clause 1 - Equalisation of and increase in pensionable age for men and women
Pensions Bill [Lords]
Rachel Reeves (Leeds West, Labour)
I am unsure whether the hon. Gentleman was there for the entire debate, or has read Hansard, because I set out Labour’s alternatives very clearly, as did the shadow Secretary of State for Work and Pensions. They are backed by Age UK and Saga. The Opposition propose that we stick with the current equalisation timetable—equalise men and women’s state pension age to 65 in 2020—but then increase the state pension age for men and women to 66 between 2020 and 2022, bringing that forward by four years. The Government’s proposals save £30 billion; our proposals save £20 billion. As hon. Members from all parts of the House have said, however, there is also the possibility of bringing forward the increase to 67 and 68, which we asked the Government to look at. Answers to parliamentary questions show that that would save significantly more than the Government’s proposals.