Work and Pensions Committee

Early drawing of state pension inquiry

Inquiry status: Concluded

Due to the general election on 8 June 2017 the Committee has now closed this inquiry. Following the dissolution of Parliament on 3 May 2017, all Select Committees cease to exist until after the general election. If an inquiry on this subject is held in the future, the Committee may refer to the evidence already gathered as part of this inquiry.

Scope of the inquiry

In its report on Communicating state pension age changes (PDF 2.7MB), 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 permit women to choose to take a state pension sooner than scheduled in return for lower weekly payments for the duration of their retirements.

Following the publication of the report, the Committee invites written submissions addressing the following questions:

  • What would be the short-term and long term fiscal impact?
  • What would be the other costs of the scheme?
  • Could additional costs be incorporated in the reduction factors used to achieve long-term fiscal neutrality?
  • How should the scheme interact with pension credit and other benefits?
  • How could uncertainty within the system be budgeted for and managed?
Terms of reference: Early drawing of state pension

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