Background Pensionable age
7.The PA 1995 legislated to equalise women’s pensionable age with that of men between 2010 and 2020 by gradually increasing women’s pensionable age from 60 to 65
8.The PA 2007 then made provision to increase the pensionable age for all to 66 between 2024 and 2026, to 67 between 2034 and 2036 and to 68 between 2044 and 2046.
9.The PA 2011 accelerated the rate at which women’s pensionable age equalised with men’s, such that this process will complete in 2018. It also brought forward the period in which pensionable age would increase from 65 to 66 to between 2018 and 2020. This reflected increases in life expectancy at pensionable age since the original timetable to increase pensionable age was set in 2007. On 29 November 2011, the Chancellor of the Exchequer announced the Government’s intention to legislate to bring forward the increase to 67.
10.In addition to consulting on reform of the state pension, A state pension for the 21st century also sought views on options for managing future increases to pensionable age in response to ongoing increases in life expectancy projections. Following this, The single-tier pension: a simple foundation for saving, published in January 2013, set out a proposed framework for considering future increases in pensionable age.
11.Part 3 of the Act contains provisions for these changes to pensionable age.