House of Commons
Work and Pensions Select Committee
Committee launches new inquiry on early drawing of state pension
In its report on Communicating state pension age changes, published on 15 March 2016, the Committee called on the Government to explore the option of permitting a defined group of women who have been affected by state pension age changes to take early retirement, from a specified age, on an “actuarially neutral basis.”
This would mean some women could choose to take a state pension sooner than scheduled in return for lower weekly payments for the duration of their retirements. The “reduction factor” used should ensure that, on average, over the lifetimes of the pensioners concerned, there would be no additional pension costs to the exchequer.
The Committee requests written evidence on this possible policy. In particular, it invites answers to some or all of the following questions:
ABC: We will keep you posted on that one