State
pension age: Millions of people will have to work an extra year before retiring
at 68
Millions of workers will have to work an extra year before
retiring after the Government announced plans to extend the retirement age to
68.
The state pension age had been due to rise by a year – from
the current age of 67 – in 2044.
But David Gauke, the Work and Pensions Secretary, said the
cash-saving move would be implemented from 2037, seven years earlier than
planned.
Pensions experts said more than six million people would be
affected by the change, which will leave anyone aged 47 or younger having to
work for an extra 12 months before they can claim their state pension.
Debbie Abrahams, the Shadow Work and Pensions Secretary, called the announcement “an astonishing continuation of austerity”.
She said 34 million people would have to work
longer than under Labour's plans.
The change, which will be brought in over two years, will
affect everyone born between 6 April 1970 and 5 April 1978, who under current
legislation had been due to retire at 67 but will now work a year longer.
No one born on or before 5 April 1970 will see a change to
their current state pension age.
There is also no change for those born after 6 April 1978,
whose state pension age was already due to rise to 68. Check Your State Pension age
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