Retirement Age

Oral Answers to Questions — Work and Pensions – in the House of Commons at 2:30 pm on 19 July 2010.

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Photo of Anne McIntosh Anne McIntosh Chair, Environment, Food and Rural Affairs Committee, Chair, Environment, Food and Rural Affairs Committee 2:30, 19 July 2010

What public consultation will be held on proposed changes to the retirement age for state pensions; and if he will make a statement.

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions

On 24 June we published a call for evidence for plans to increase the state pension age to 66 on a more rapid time scale. The closing date for that consultation is 6 August.

Photo of Anne McIntosh Anne McIntosh Chair, Environment, Food and Rural Affairs Committee, Chair, Environment, Food and Rural Affairs Committee

There is a general understanding of the need for such a change, but those who will be affected by what will be an arbitrary date desperately need the knowledge to enable them to plan their finances, to give them certainty and security in their retirement.

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions

My hon. Friend makes an important point, and we are seeking to move as quickly as possible to reach a conclusion on the change to the age of 66, to give people the maximum notice so that they can make appropriate plans.

Photo of Malcolm Wicks Malcolm Wicks Labour, Croydon North

Notwithstanding the need to increase the age at which people draw the state pension, will the Minister and his Department look into the social class dimension? According to the latest statistics, 19% of men from the poorest social backgrounds do not survive to get their pension. Those from poorer backgrounds, who often do heavy manual work throughout their lives, die much earlier in their pension careers than those from better-off backgrounds. Will he look into the social class dimension?

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions

The right hon. Gentleman is very knowledgeable about pensions and social issues, and he has highlighted an important matter. We specifically referred to this in the call for evidence for the change to 66. The good news is that life expectancy is increasing across all social groups, but the factor that he mentioned is an important one, and we will consider it when we examine state pension ages.