§ James PurnellTo ask the Secretary of State for Work and Pensions what estimate he has made of how much money would be accrued by the delay in payment of pension-related benefits, by two years in comparison to the payment of such benefits at 65 years if the retirement age were increased to 67 years. [43649]
§ Mr. Nicholas Brown[holding reply 20 March 2002]: Currently state pension age is 65 for men and between 60 and 65 for women, depending on their date of birth. From 2020 state pension age will be 65 for all.
If the state pension age were increased to 67 in 2020–21, we estimate that the gross savings on state pension expenditure in that year would be around £6.2 billion, in 2002–03 prices.