State pension age should be raised to 75 within 16 years, according to Iain Duncan Smith’s think tank
- Centre of Social Justice wants the state pension age to rise to 70 by 2028
- It backs increasing the working age to 75 by 2035 for the UK’s ageing population
- Duncan-Smith’s think tank says it will reduce benefits costs and boost GDP
- It includes proposals for flexible working hours and improved healthcare
The Centre of Social Justice, headed by Iain Duncan Smith, recommends raising the state pension age to 70 in the next nine years (Mr Duncan Smith outside Broadcasting House last month)
The state pension age should rise to 70 in the next nine years and to 75 by 2035 to boost the British economy, according to Iain Duncan Smith’s think tank.
The Centre of Social Justice (CSJ), chaired by the former Tory leader, wants older people to ‘access the benefits of work’ and believes the UK needs to wake-up to the reality of an ageing workforce.
The state pension age is set to increase to 67 by 2028 and to 68 between 2044 and 2046, although in 2017 the Government announced plans to increase it to 68 between 2037 and 2039.
Mr Duncan-Smith’s think tank believes bolder increases in working age would reduce benefits costs and boost GDP.
The CSJ said: ‘Removing barriers for older people to remain in work has the potential to contribute greatly to the health of individuals and the affordability of public services.
‘Therefore, this paper argues for significant improvements in the support for older workers.
‘This includes improved healthcare support, increased access to flexible working, better opportunities for training, an employer-led mid-life MOT and the implementation of an ‘Age Confident’ scheme.
The state pension age is set to increase to 67 by 2028 and to 68 between 2044 and 2046, although in 2017 the Government announced plans to increase it to 68 between 2037 and 2039 (stock image)
‘As we prepare for the future, we must prioritise increasing the opportunity to work for this demographic to reduce involuntary worklessness.
‘For the vulnerable and marginalised, a job offers the first step away from state dependence, social marginalisation and personal destitution.
‘In addition, provided that this support is in place, we propose an increase in the state pension age to 75 by 2035.
‘While this might seem contrary to a long-standing compassionate attitude to an older generation that have paid their way in the world and deserve to be looked after, we do not believe it should be.
‘Working longer has the potential to improve health and well-being, increase retirement savings and ensure the full functioning of public services for all.’
CSJ chief executive Andy Cook said: ‘Right now, we are not doing enough to help older people stay in work and the state pension age doesn’t even closely reflect healthy working life expectancy.’
He added: ‘By increasing the state pension age, we can help people stay in gainful and life enhancing employment while also making a sound long-term financial decision.’