Government To Review State Pension Age Again
Published / Last Updated on 09/02/2022
The Government has issued a consultation paper today to explore the potential increase again for State Pension Age.
The proposal:
Legislation for State Pension Age increases from 67 to 68 is already in place for it to increase gradually between 2044 and 2046 for those born after April 1977.
The new proposal is looking to bring State Pension Age 68 forward to 2037-2039. This will affect all those born after April 1970.
The consultation closes on the 27th April 2022, so not much time to react here.
Comment
We can tell you one thing, the director of this firm, Joanne Roberts-Clark was born in 1971, so she will not be happy having worked and paid national insurance contributions since the age of 16 with a promise of a state pension at age 60. This was increased to 65 and now 67 but then having to wait another year to 68, fireworks will follow.
The reality is that in recent years, life expectancy has been increasing but in the last two years it has fallen, so we see no justification for bringing the age 68 increase forward.
In addition, this is highly unfair for people that are already in their 50s today, starting to plan and think about retirement and will then get another ‘kick in the teeth’.