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These measures combined with the age discrimination legislation I mentioned earlier, will give employees greater flexibility to plan a gradual move from full-time work to retirement. But we can and should look printed ring bound awards at whether there are other ways to increase this flexibility further. For example, looking at whether there printed ring bound awards are workable ways to make State Pension Deferral more flexible such as the Pensions Commission proposal to allow people the option of printed ring bound awards deferring some of their State Pension rather than all of it. My view is that some increase in the State Pension Age from 2020 is now inevitable. But any rise will only be acceptable to people if it comes as part of a package to improve pension provision in other key areas that Lord Turner’s report addresses. And we must keep in mind that the State Pension Age is a fairly blunt tool for changing effective retirement ages.
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