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| Pensions at 66 |
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| Written by Gordon Prentice | ||||||
| Wednesday, 20 October 2010 16:31 | ||||||
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The Comprehensive Spending Review makes grisly reading. The Coalition is rolling back the frontiers of the State. And relishing it. £7 billion taken from the (so called) welfare budget on top of the £11 billion announced earlier. But, curiously, one or two groups have been reprieved. Men who thought they would have to wait until they are 66 before collecting their State retirement pension can now, after all, collect it at 65. This decision, which could seem like a tiny footnote in the bigger story, affects hundreds of thousands of people. Instead of the change occurring in 2016 it has been pushed back to April 2020 when the State retirement age for men and women will be 66. The State retirement pension will be equalised for men and women at 65 in 2018. As the Guardian puts it: Women will be hardest hit, as their current scheme for moving from 60 to 65 years will be dramatically accelerated. For many people in low paid, boring or stressful jobs, the thought of working for longer is not something to look forward to. It is different for those at the top. Only a couple of years ago, the clueless Deputy Prime Minister, Nick Clegg, thought the State pension was about thirty quid. 
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| Last Updated on Friday, 22 October 2010 18:55 |
