State pension (1)

Meeting: 
MQT on 2017-08-10
Session date: 
August 10, 2017
Reference: 
2017/3356
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

How many Londoners are affected by the Government's decision to bring forward the increase in state pension age from 2044 to 2037-39?

Answer

Answer for State pension (1)

Answer for State pension (1)

Answered By: 
The Mayor

Under the current law, the State Pension age is due to increase to 68 between 2044 and 2046. 

The Government now plans to change the law so that the State Pension age increases in stages to 68 between 2037 and 2039.  The staging of the increases has not been announced.

The table below provides estimates of the numbers affected, that is 67 year olds who would have to wait to receive a State Pension at a later age, at the mid-point of each year.

The modelling assumes that the staging happens over two government financial years, that is between 6 April 2037 and 5 April 2039, and 6 April 2044 and 5 April 2046, and that there is an increase in the State Pension age of one month every two months. 

It takes the population projections as mid-year estimates, and assumes that there is an even distribution in the population across all days in the year.

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