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Raising of the Pension Age

The statistics might cast some light on this. They are clearly projections, and they have to be kept under review, as do all statistics. On the whole, the increase in state pension age will not result in a reduction in the number of people who survive to pension age. Indeed, it is projected to increase slightly. At the moment, 83 per cent. of men and 89 per cent. of women born in 1955 are expected to reach the state pension age of 65 in 2020. However, of those born in 1978, 85 per cent. of men, which is 2 per cent. higher, and 90 per cent. of women, which is 1 per cent. higher, are expected to reach the state pension age of 68 in 2046. What Parliament did when it legislated to increase the pension age gradually was to keep the percentages fairly similar; but it slightly increased the number projected to be able to retire despite the rise in age.