Proposals to increase the State Pension age seven years early have led to calls for employers to ensure they provide flexible working environments.
Following a review into the State Pension age, a new timetable has been proposed to increase the age to 68 between 2037 and 2039. Much sooner than the current legislation outlines, which provides for a rise to 68 between 2044 and 2046.
Dr Anna Dixon, Chief Executive of the Centre for Ageing Better, argued that if people are to work longer, urgent action was needed by government and employers to make the labour market fit for purpose.
“By the year before people reach their State Pension age, over half are not working and there are one million people aged 50 to 64 who would like to work but are not, most having left due to poor health, redundancy, or caring responsibilities,” she said. “Employers must introduce flexible working arrangements that allow people to balance these pressures.”
The latest projections from the Office for National Statistics revealed that the number of people over State Pension age is expected to grow by a third between 2017 and 2042, from 12.4 million in 2017 to 16.9 million in 2042.
Secretary of State for Work and Pensions, David Gauke, said: “As life expectancy continues to rise and the number of people in receipt of the State Pension increases, we need to ensure that we have a fair and sustainable system that is reflective of modern life and protected for future generations.”
The change will affect everyone born between 6 April 1970 and 5 April 1978.
