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Written question asked by Baroness Neville-Rolfe (Conservative) on Wednesday, 22 July 2026, in the House of Lords. It was due for an answer on Wednesday, 5 August 2026. It was answered by Lord Pitt-Watson (Labour) on Monday, 3 August 2026 on behalf of the Treasury.

Pensions: Finance

Question

To ask His Majesty's Government what assessment they have made of the effect of the decline in UK birth rates on levels of pension spending.

Answer

The Office for Budget Responsibility (OBR) is the Government's official forecaster responsible for assessing the UK economic and fiscal outlook. Its annual publication the Fiscal Risks and Sustainability (FRS) report incorporates biennial long-term projections


The OBR has noted that demographic change can affect future spending and revenues, including the pressures that demographic changes create on state pension spending


The Government keeps these issues under review as part of its wider consideration of the public finances. In July 2025, the Government announced the launch of the Third State Pension age review to consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. The review is ongoing.

Secondary information

Type
Written question
Reference
HL2574
Session
2026-27
Subjects
Finance Pensions Birth rate
Link
View this Written question on www.parliament.uk