State Pension Age Rise Tories
Published / Last Updated on 05/10/2009
State Pension Age Rise – Tories
by Ashley Clark, Director
Shadow Chancellor, George Osborne has stated, if elected, that the Conservative Party will increase the state pension age earlier than arrangements already brought in by Labour.
Currently, the State Pension Age is scheduled to increase from 2024 through to 2030 onwards, gradually from 65 to 66 to 67 and for younger people to 68.
Mr Osborne confirmed that if elected, they would bring forward the State Pension Age for men to 66 from 2016. In short, anybody over the age of 49 will be affected.
In a separate report on the BBC, the Tories claim any changes would save £13bn a year from the budget deficit, about 0.75% of GDP each year.
We suggest this is just the start of more increases in taxes and reducing benefits to cut Government spending and to reduce/pay back public sector borrowing. The country is in debt to the tune of £180bn.
Useful links:
Contact us - Book Callback - Free Consultation - Newsletter - Money MOT - Discounts
