News story

8th February 2002

IFS Study on Increased Life Expectancy

Steve Webb MP, Liberal Democrat Shadow Secretary for Work and Pensions, commenting on today's report from the Institute for Fiscal Studies stating that trends of increased life expectancy and less generous pensions will mean that fewer people will be able to take early retirement in the future.

Steve Webb said:

"Far too many people are still being forced to retire early, especially in the public sector. The Government has been playing lip service to the idea of flexible retirement lately and this IFS report suggests that it is in the interest of many people to work longer. If this is what people want, Government policy should give them that flexibility.

"At present, retirement is too much of a cliff edge. Retirement and pension rules should be relaxed to give people greater choice and flexibility."

ENDS