Increase to State Pension Age DelayedThursday, October 13th, 2011
The Government has announced that its plans to increase the State pension age to 66 is to be delayed. This is with the prime aim of helping women who would be most affected by the rise. From April 2010, the womens’ pension age has already been increasing from 60 to 65. The current Pensions Bill proposes that this increase is completed by 2018, with a further rise to 66 effective April 2020. The Bill has now been amended to delay the further rise for both men and women until October 2020.
Various groups had expressed concerns that women would have to wait an additional 2 years before being able to claim their pension, having little time to adjust or prepare for the change. In a DWP press release today, Welfare Secretary Ian Duncan Smith has announced that this will be reduced to 18 months.
If enacted, the Pensions Bill will see the pension age for women reach 65 in November 2018 then the pension ages for both men and women reach 66 by October 2020.