Speculation rife as Liz Truss declines to rule out raising state pension age

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Image of Liz Truss. Credit: Shag 7799/Shutterstock.com

With speculation rife that Liz Truss will raise the state pension age, she has refused to be drawn on the issue saying that reporters are asking her to comment on items yet to be discussed.

The questions were put to the prime minister today Tuesday, October 4 with her answer only adding to the fears of those nearing pension age.

She said: “You’re asking me to speculate about all kinds of decisions that haven’t yet been made,” however, few believe that the issue would not have come up for discussion as part of the debate around how the government will pay for its tax cuts.

The pension age is currently being increased for both men and women with the latter reaching 67 by 2028, from when they will become eligible for a state pension that is currently £185.15 per week. That will rise under the Pensions Act 2007 to 68 between 2044 and 2046.

Truss added: “What’s first of all important is that we dealt with the energy prices people were facing. We’ve helped to curb inflation through that intervention. We’ve reduced taxes to get the economy growing.

“We’re going to be doing economic reforms in areas like moving faster with building projects, moving faster with transport projects to get the economy going.

“And that is what we need to do because we are facing a very difficult international situation, a slowing global economy. So yes, I will do what it takes to fix those issues.”

In terms of the Pensions Act 2014, the government is required to review the State Pension age on a regular basis, with the next review due to be published by May 7, 2023.

The failure to comment from the under-fire prime minister comes at a time when pensioners are waiting to hear whether the government will honour the triple lock implemented by David Cameron and George Osborne. Failure to deal with the issue of retirement age will only add to fears that the government will come up short.

The comment has prompted many within and outside of the Tory party to question her approach including Wendy Chamberlain, spokesperson for the Liberal Democrats who said: “ Liz Truss seems to have completely lost the plot.

“After screwing over mortgage borrowers, now it looks like she’s preparing to force millions to tear up their retirement plans.

“It can’t be right to raise the retirement age when life expectancy has dropped. Who will be next on Liz Truss’s hit list? It just shows this Government is completely out of touch.”

Those views were echoed by the Director of Silver Voices Dennis Reed who told the Mirror: “It seems like the Government is trying to find ways to make pensioners and others who are on lower incomes pay for all the unfunded tax cuts in the mini-Budget.

“There are a lot of people who are unable to work in their late 60s or early 70s for medical reasons – particularly in manual occupations.

“It’s no good saying people are living longer; they aren’t necessarily living longer in better health.”

It would seem that the prime minister has still not grasped the need to deal with the media and the public in a respectful and open manner, adding to the speculation that pension ages will be increased and that her terms at the helm will be a short one.

More specifically her comments have only added to the speculation, which is already rife as she declines to rule out raising the state pension age

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Written by

Peter McLaren-Kennedy

Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.