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How the state pension age is changing
Originally posted by 5corpio
Our Q&A explains how much longer you will have to work before you can claim your state pension.
LINK below to read the Q&A
How the state pension age is changing - Telegraph
Ministers have agreed to increase the state pension age to 66 and four months, but the move will be delayed until 2024.
An increase in the state pension age to 66 was previously due to come in during 2020.
The higher pension age was agreed in exchange for a delay in the changes being introduced, allowing women in their 50s who faced an unfairly sharp rise in their retirement age the time to sort out alternative retirement savings.
Around 330,000 born between December 1953 and October 1954 would have faced the steepest rise in their pension age, with retirement put back by as much as two years.
The move is a victory for the Liberal Democrats within the Coalition, who have been keen to help those women who would otherwise have had a dramatic hike in their pension age over a short timescale.
A Whitehall insider said: “We’ve been arguing for months that this will badly affect women who saved for their retirement on the assumption that they could retire at the age of 60, and who had been left with little time to plan for that to be raised by quite a substantial amount.
How the state pension age is changing - Telegraph
New state retirement age: 66 years and four months
Ministers have agreed to increase the state pension age to 66 and four months, but the move will be delayed until 2024.
An increase in the state pension age to 66 was previously due to come in during 2020.
The higher pension age was agreed in exchange for a delay in the changes being introduced, allowing women in their 50s who faced an unfairly sharp rise in their retirement age the time to sort out alternative retirement savings.
Around 330,000 born between December 1953 and October 1954 would have faced the steepest rise in their pension age, with retirement put back by as much as two years.
The move is a victory for the Liberal Democrats within the Coalition, who have been keen to help those women who would otherwise have had a dramatic hike in their pension age over a short timescale.
A Whitehall insider said: “We’ve been arguing for months that this will badly affect women who saved for their retirement on the assumption that they could retire at the age of 60, and who had been left with little time to plan for that to be raised by quite a substantial amount.
LINK to read more: New state retirement age: 66 years and four months - Telegraph