Pensions report published

Lord Turner’s long-awaited report on reform of the pension system will be published this morning.

It is expected to recommend increasing the basic state pension and raising the retirement age from 65 to 67.

The two-year increase is expected to be introduced from 2020.

The report will also float the idea of working until 68 or even 69, according to the Guardian newspaper.

Lord Turner is expected to argue that the pensionable age could be allowed to rise automatically alongside life expectancy, and that restoring the link between state pensions and earnings could be paid for by making all civil servants work until 65.

Tony Blair yesterday insisted the government would stand by a recent deal allowing existing public sector workers to retire at 60 while new recruits work on for another five years.

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