Below is the text of Mr Major’s written Parliamentary Answer on Retirement Age on 11th February 1987.
Mr. Janner Asked the Secretary of State for Social Services to what extent the costs of establishing a voluntary retirement age of 60 years for both men and women would be offset by a reduction in unemployment and other benefits.
Mr. Major After taking account of savings of about £1.6 billion in unemployment and other benefits, the net cost of establishing a common minimum pension age of 60 for both men and women would be about £3 billion in public expenditure, on our best estimate.
Mr. Janner Asked the Secretary of State for Social Services what is the average age at which (a) men and (b) women retire from work in the United Kingdom.
Mr. Major I shall let the hon. and learned Member have a reply as soon as possible.