Autumn Statement announcement on a core principle underpinning future state pension age rises: DWP background note

Document type
Other
Corporate author(s)
Great Britain. Department for Work and Pensions
Publisher
DWP
Date of publication
5 December 2013
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion, Older Adults
Collection
Social welfare
Material type
Reports

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In the Autumn Statement, delivered on the 5th December 2013, the Chancellor announced the government’s position that people should spend, on average, up to one third of their adult life drawing a state pension. 

This note provides further detail on this core principle and how it may be defined in practice. 

Included is how the proportion of adult life spent in retirement is calculated and the variables used in the government’s calculations, an explanation of why 20 is the age chosen to represent when adult life is considered to begin, what measurement of life expectancy is used, how a person’s life expectancy is measured, a proposal for a State Pension age review, and notes on how to define a third of adult life.

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