UK. State pension changes will cost 7 million people £10,000 each
More than 7 million people will lose just under £10,000 each because of new government plans to increase the state pension age earlier than planned.
Last week the government announced it would raise the state pension age to 68 for those now in their late 30s and early 40s. The change will affect Britons born between 1970 and 1978, who will now have to wait another year to receive their state pensions, a move which the government found would save £74bn.
New analysis from the House of Commons library found that each person affected by the change stood to lose around £9,800, which Labour called “disgraceful and unjustified”. The analysis said the sum was roughly what might be expected, given that one year’s state pension is around £8,300.
Full Content: The Guardian
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