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.....baby boomers reach retirement
The cost of paying the basic State pension to old people will double over the next 20 years to more than £120billion, official figures revealed yesterday. At this record-breaking level, Britain's pensions bill will be larger than the total economic output of countries such as Israel, Malaysia and the Czech Republic. At present, the figures, from the Department for Work and Pensions, reveal it will cost £63billion this year to pay the basic State pension, currently worth £107.45 per week....Read more here: State pension bill to double to £120bn in just 20 years as baby boomers reach retirement
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