Work and pension secretary Liz Kendal The state pension era has been announced to review.
It comes in a major speech where the Senior Cabinet Minister has warned that the cost Triple lock guarantee State pension is £ 31bn a year.
Triple lock David CameronThe government of the government in 2010 means that the state pension either increases by 2.5 percent or the highest rate of inflation is more to maintain with the cost of life.
Currently, the state pension age for both men and women coming close to retirement is 67, but earlier this year Denmark became the first country to increase by 70 to 2040 and then to 70.
Following a major rebellion by Labor Backbencher, Ms. Kendall was announced after failing to get parliamentary support for the deduction of the welfare bill of £ 5BN in a year.
She has already got entangled in a line on labor u-turning on the pledge to compensate the so-called waste women born between April 1950 and April 1960, which lost to her retirement plans after late changes in 2015, which took them from 60 to 65.
Speaking in Central London this morning, where she was restarting the Pension Commission, Ms. Kendall warned of increasing threat to poverty until the system had a major improvement.
“Simply say, until we work, tomorrow’s pensioners will be poorer than today, because those who are saving are not saving enough for their retirement
“And significantly, because about half of the working age is not saving anything for their retirement,” the work and pension secretary said during a speech to start the move.
The Commission is expected to provide recommendations to promote retirement income in 2027. This will not look at triple lock or will not be part of the state pension era review.
He also announced a review of the next statutory government in the pension era.
She said that she was about “without any confusion” how difficult would it be to map the schemes for pension for the coming decades.
He admitted that “many laboring tables are more concerned about placing a roof on their heads, which seems to be a long, long way away, and many businesses face big challenges in keeping many businesses profitable and flexible in the uncertain world.”