Pension age increase plans 'risk creating a retirement lottery' based on scheme rules

“Increasing the ‘normal minimum pension age’ to 57 for everyone, except members of the armed forces, police and fire service, would be infinitely simpler and better reflect the policy intention of increasing the age at which people can normally access their pension in line with rising average life expectancy.”

Jon Greer, head of retirement policy at Quilter, has also discussed the proposals, arguing the Government needs to U-turn on the minimum pension age change.

“We appreciate the theory behind the change to 57 and the Government’s concerns around people having enough to live off in retirement,” he said.

“However, if you are worried about the longevity of people’s pension pots and people accessing their savings too early, you would not move the NMPA to 57.


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