Government kicks state pension announcement down the road
The government was due to publish its response to the Cridland review of State Pension ages by the 7th May. This timetable has been disrupted by the General Election; perhaps not surprisingly, the government has chosen now to delay its announcement until after the election.
This does seem to be in contravention of section 27 of the Pensions Act 2014, which committed the government to a firm timetable (see below).
Tom McPhail, Head of policy:
"There are no votes to be won in telling people they have to work longer, so it is hardly surprising the government has chosen to kick the can down the road until after the General Election. Nevertheless, whoever forms the next government, this challenge will have to be addressed and sooner rather than later. Under some models explored by John Cridland and the Government Actuary, state pension ages could be rising to 70 for some in their 30s today, so people need to know what to expect.
It may well make sense for the next government to bundle together the review of the state pension age with any decisions regarding the inflation-proofing for the pension."