The Department for Work and Pensions Secretary of State has appointed Suzy Morrissey to prepare an independent report ahead of the third review of the state pension age.

Morrisey has called for the views on what factors government should consider in determining state pension age for future decades.

The state pension age is reviewed by the government every six years as part of the Pensions Act 2014.

The independent report will look at the merits of linking state pension age to life expectancy and the role of state pension age in managing the long-term sustainability of the state pension.

It will also look at the international experience of automatic adjustment mechanisms for making decisions about state pension age.

The current legislated timetable is for state pension age to rise to 67 between 2026 and 2028 and 68 between 2044 and 2046.

Commenting on the announcement, Broadstone client consulting director David Pye says: “The launch of the State Pension Age Review is a critical step in laying out the long-term future of this hugely important core benefit for retirees to aid their individual planning and cashflow modelling that many now undertake.”

“With an ageing population, previous governments have almost exclusively used an increasing State Pension age to control costs – especially at a time of creaking public finances. But it will be interesting to see if the final Report recommends anything different especially as life expectancy plateaus and our health landscape changes.”

“If the State Pension age is increased or the amount provided is reduced or means-tested, it will only re-iterate the need for urgent reform in the private savings landscape to ensure adequate incomes at retirement.”