A DWP minister recently spoke about an early access scheme for the state pension
Experts have set out a proposal for a scheme allowing people to claim the state pension earlier. This follows recent comments from a senior DWP minister who told MPs this matter is a key consideration moving forward.
The state pension age is set to rise gradually from April 2026, climbing from 66 in phases until it reaches 67 by April 2028. The full new state pension currently stands at £241.30 per week, following a 4.8 per cent increase under the triple lock.
The triple lock guarantees annual April increases based on whichever is highest among three measures: average earnings growth, inflation or 2.5 per cent. DWP minister Torsten Bell was recently questioned by the Work and Pensions Committee about proposals to allow early access for specific groups.
A very good question
He told the MPs: “It is a very good question, and I think we should take that seriously.” He went on to say there are certain “inequality challenges” when it comes to the state pension system.
The minister said: “You want there to be a state that is supporting people who are too ill to work, whether they are 25, 45 or 66. That is important to have in mind.
“You want a system that means people are getting help. We have chosen, for good reasons, to have a big difference in the level of income support provided to people over the state pension age and under it, in big-picture terms, because the work incentive issues are different and all the rest.”
Not everyone can work up to state pension age
Wealth management firm Aegon is among those who have long championed early access to the DWP benefit. Kate Smith, head of Pensions at the group, said: “We welcome the Government’s willingness to explore how the system can better reflect the fact that not everyone is able to work right up to an ever‐rising state pension age, with lower income groups more adversely impacted.
“On average people are living longer but not necessarily healthier.” She further outlined the argument for an early access scheme: “At Aegon we have long made the case that a single fixed minimum state pension age increasingly fails to recognise differences in people’s health, job demands and caring responsibilities.
“Greater flexibility would give individuals more choice over when they access the state pension, rather than forcing a one‐size‐fits‐all approach.” When asked how such a system might operate, Ms Smith said: “Any reform must continue to be based on individual need and capability, while offering practical options and support for people who simply can’t stay in work for longer.
“Exploring a more flexible framework is a sensible and pragmatic step, and one we believe is worth serious consideration.”
