State Pension Age Should Be 72
Published / Last Updated on 19/08/2010
State Pension Age Should Be 72
by Ashley Clark, Director
The Pensions Policy Institute has suggested that to balance the UK’s books and to take into account an ageing population and lower numbers of workers, the state pension age should be increased to age 72.
In addition, the institute suggests that the public should have much greater notice on significant policy changes with at least 10 years notice being given for such a major event as a state pension age change to given people time to plan.
The state pension age for women is already being raised to 65 by 2020 and will gradually increase for all to age 68. In addition, the male state pension age only will increase to 66 from 2016.
We suggest that this government and indeed previous governments have played with all our lives when it comes to state pensions. Some women who have paid into the system for over 20 years already, now face retirement at age 68, when they started paying state pension age was just 60. A theft, in our opinion, of 8 years pension payments that will never be made.
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