The government has launched a second review ands consultation into the state pension age.

Launched this week, Baroness Neville-Rolfe has been instructed to prepare an independent report making recommendations to the government following the results of the consultation which closes on 25th April 2022.

The review will consider whether rules around pensionable age are appropriate based on latest life expectancy data in addition to information gathered via consultation. It will specifically consider whether the pension age increase to 68 should be brought forward to 2037-39, from the current plan of  between 2044 and 2046, for those born on or after April 1977.

The Pensions Act 2014 requires the government to review the state pension age every six years. A first review was conducted in 2016.

Life expectancy varies hugely across the UK so any change isn’t straightforward and is bound to be controversial. And people living in poorer areas are much more likely to remain in work while waiting to become eligible for the state pension.

Mark Williams, of Amba Legal Services commented: “It’s vitally important that any change is announced as soon as possible to help people plan for their eventual retirement. Good planning also includes making sure everyone arranges to have their Will drawn up.”

For further advice on Wills and Estate Planning call Amba Legal Services on 01299 251442.