§ Mrs. Renée Shortasked the Secretary of State for Social Services on what factors his Department bases its conclusion that any change in respect of a flexible age of retirement would need to be phased in over 10 years.
§ Mr. MajorThe Department has no firm views on the length of time that would be needed, but certainly it would have to be sufficient to enable individuals affected to adjust their plans, and to enable occupational pensions schemes to make any necessary consequential adjustment. A period would also be needed to allow state earnings-related pensions to build up to ensure those retiring below the normal pension age had adequate pension provision.