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State pension age: look up when you will retire

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Teenagers and those in their twenties can expect to work to age 70 as the state pension age rises to cope with an ageing population and longer lifespans.

The state pension age is already rising, but future increases in ages are yet to be set in stone.

Two reports published today outlined ways in which the cost of the state pension could be brought down, mainly by pushing back the age at which it is claimed.

One report, by John Cridland, also outlined ways in which future pensioners might be able to delay taking their state pension in exchange for cash.

One of Mr Cridland’s suggestions was that state pension age should rise to 68 between 2037 and 2039. At the moment, state pension age increases would reach 68 only by 2046.

He also said state pension age should not increase more than one year in any ten year period, assuming that there are no exceptional changes to the data used.

The second report, by the Government Actuary’s Department, outlined in more detail how ages would rise depending on increases in lifespans.

Current plans

The state pension age is currently 65 for men and 64 for women. The latter will keep steadily rising every few months and equalise at 65 for men and women in 2018.

The state pension age will then increase every few months, reaching 66 by 2020. 

Then it climbs up to 67 through a series of gradual increases, with those born in 1961 and beyond being the first to collect their state pension at 67.



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