UK. State pension age to increase seven years earlier than planned
Britons born between 1970 and 1978 will have to wait an extra year, until they are 68, to claim their state pension, the government has announced.
David Gauke, the work and pensions secretary, announced the controversial rise for about 7 million people in their late 30s and early 40s just before the House of Commons breaks up for its summer recess.
The move implements the findings of a review by the former CBI director general John Cridland, published in March, which recommended accelerating the planned increase in the pension age to prevent the costs of the state pension becoming unsustainable.
The decision means the state pension age increasing from 67 to 68 between 2037 and 2039 – seven years earlier than previously planned – to reflect increasing longevity.
Gauke said implementing the proposals would create “fairness across the generations, and the certainty which people need to plan for old age”, and insisted he wanted Britain to be “the best country in the world to grow old”.
He said failing to act “would be irresponsible and place an extremely unfair burden on younger generations”.
Read full news here: The Guardian
