PRESSURE on the government to go even further to shake up the state pension system is mounting, after professional services firm PwC published a report today calling for the state pension age to be scrapped altogether.
Instead, people should be allowed to choose when they retire as part of a new retirement window structure, which would give anyone the chance to stop working earlier in return for taking less money out of the system.
Raj Mody, head of pensions at PwC, said: “It is clear a one size fits all state pension age does not work anymore. Rather than prescribing when people can access their state pension, people should be allowed a degree of choice based on their individual circumstances,” he added.
The research shows that half of people asked would sacrifice their pension pot cash to retire early.