Pensions - Articles - Aegon welcomes Lord Turner’s thinking on State Pension

 However, as the default state pension age continues to rise, it becomes increasingly necessary to find solutions for those who are simply unable to work to advanced ages. The SPA is already scheduled to increase and further extending those increases without decades of notice would be extremely challenging for politicians and pensioners alike. The WASPI campaign is a stark reminder of the issues that can be created.

 “Instead we believe everyone should be offered the option of drawing their state pension earlier than the default age but with a reduction to make this cost neutral. We would not propose limiting this to manual workers or those with low incomes or poor health as the challenges of working to advanced ages can exist across all employments and income levels. An arbitrary divide would also be difficult to police and be open to challenges on fairness.

 “These changes would go some way to extend the Chancellor's pension freedoms from private sector to state pensions.”