The Department for Work and Pensions has broken its silence over calls to slash the state pension age to just 60. The DWP has responded to a petition on the Parliamentary website which is calling for the state pension age to be slashed.
The petition calls for the State Pension to increase to £549 for every person over the age of 60, including Brits living abroad in retirement. The proposals put forward by Denver Johnson have received more than 19,200 signatures of support.
The DWP said: “The Government has no plans to make State Pension available from the age of 60 or to increase State Pension to equal 48 hours of work a week at the National Living Wage.” It said: “The Government is committed to supporting current and future generations of pensioners and giving them the dignity and security they deserve in retirement.
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“We have made a commitment to the Triple Lock for this Parliament which will mean spending on people’s State Pensions is forecast to rise by over £31 billion. As a result, by the end of the Parliament, the yearly State Pension of over 12 million pensioners will be up to £1,900 higher.
“The State Pension and the National Living Wage have different purposes, and a direct comparison cannot be drawn. The National Living Wage is designed to protect low-income workers and provide an incentive to work. It is also worth noting that while State Pension is an entitlement based on a person’s National Insurance record, it is legally a benefit. From the time of the 1946 National Insurance Act, which applied from the inception of the National Insurance scheme, retirement pension (latterly also known as State Pension), has always been classified in law as a ‘benefit’.”
It said: “There are no plans to bring State Pension age back down to 60. Increases to State Pension age have been in legislation since the Pensions Act 1995, which legislated to equalise State Pension age for both men and women to age 65. There have since been a number of legislated increases to State Pension age introduced under successive Governments. State Pension age is currently 66 and set to rise to 67 between 2026 and 2028 and to 68 between 2044 and 2046.
“Under the Pensions Act 2014, the Government has a statutory duty to periodically review whether the rules about State Pension age remain appropriate. To date there have been two Reviews – one in 2017, and the latest in 2023. The next Government Review must be completed by March 2029.”
It said: “For people who have not reached State Pension age the Government is committed to providing a financial safety net for those who need it. Support is available through our benefits system for those who are unable to work or are on a low income but are not eligible for pensioner benefits because of their age.”