1. State Pension Age Independent Review
TUC Conference: People and Pensions
1st February 2017
Sofia Stayte
Head of State Pension Age Independent Review

2. Affordability Fairness Fuller Working Lives
State Pension age review: Three Pillars
Affordability
Fairness
Fuller Working Lives

3. Affordability

4. Dependency ratio (65+)
Now
2040s

5. Pensioner spending over time
Source: OBR FSR 2017 data

6. Fairness

7. A Tale of Two Cities

8. Socio-economic variations in healthy life expectancy
Source: ONS 2016 Health state Life Expectancies (general health) and Life Expectancy, 2010 to 2012

9. Disability or ill health
Serious impacts to consider
Women
Carers
Affected groups
Disability or ill health
Self-employed
BAME

10. Fuller Working Lives

11. Position of older workers
Source: ONS Data from Labour Force Survey

12. Employment rate of older men, 1968-2013 (IFS)
Source: Family Expenditure Survey (1968–1982), Labour Force Survey (1983–2013). Figure 2.1 in Retirement in the 21st Century (IFS)

13. What would encourage people to work longer before retiring?
Source: British Social Attitudes Survey, DWP analysis

14. Consultation

15. Consultation responses
Range of respondents:
Individuals
Trade unions
Charities
Think tanks
Pension funds and organisations

16. Consultation themes Key issues raised included: Caring
Ill health leading up to SPa
Measures to help older workers
Burnout
Healthy Life Expectancy

17. Discussion