A balance needs to be struck between “controlling costs and improving social fairness” when deciding on the state pension age, former Pensions Minister Ros Altmann has said.

Discussing the launch of the government’s consultation on the SPA and the Cridland report today, Altmann suggested that a “more considered approach” is required to make a decision on the UK state pension.

The DWP also stated its support for the report and that it will provide assistance to the government on the matter. A DWP spokesperson said: “We welcome today’s interim report on state pension age by John Cridland. His final report, due in spring 2017, will make recommendations to the government on future state pension age arrangements, with the key objectives of supporting affordability, fairness and fuller working lives for future generations. We encourage people to respond to John Cridland’s call for evidence and have their say on this very important issue.”

The Pensions and Lifetime Savings Association welcomed the consultation and the in-depth approach that Cridland is taking in ensuring a fair and sustainable outcome.

PLSA director of external affairs Graham Vidler said: “This interim report rightly highlights the complexity of the issues involved and how they interact; it is good to see the review take a considered approach. These complexities should drive any debate about changes to the state pension age. There’s clearly a connection for savers between the state pension age and their own private pension provision, which is often linked to the state pension age. We look forward to continued engagement with the review team.”

Former Pensions Minister and Royal London director of policy Steve Webb is in favour of the review and the maintenance of a universal state pension age. He added: "The Cridland review is right to stress the value of having a single age at which state pension can be drawn.

“It is true that people in different parts of the country and different occupations may have lower life expectancy and poorer health outcomes. But the right response to this is to tackle those health inequalities at source rather than to use the blunt instrument of the state pension to solve these wider social and economic problems.”

Furthermore, Club Vita partner Steven Baxter noted that there is a definite need for reform of the SPA as it has remained unchanged since the 1920s, while longevity has significantly improved.

“We have to remember that, despite steady improvements to life expectancy, we haven’t had changes to state pension age for 90 years. It was set at age 65 in the 1920s. A typical person in 1925 would receive state pension for around 8½ years. Someone receiving state pension today will live for around 17 years.

“We can’t escape the fact there is a lot of catching up to do. Back in 1920s, an individual would receive one year of state pension for every four years working - and you had a much lower chance of ever making it to state pension age. Today it’s typically one year of state pension for every two years working,” Baxter commented.

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