Saturday, March 5, 2016
Govt. review hints at age hikes for future British pensioners
A UK government review of the state pension system hints at increases in the official retirement age in the years and decades to come.
Cabinet ministers have announced a radical review of the UK pensions over government concerns that the current system may not be “affordable in the long term.”
Working Britons who are now under the age of about 55 might be targeted if the review becomes law.
If it is approved, those workers might still have to work if they turn 75 or even 81, according to the Telegraph. Millions of people will be affected in that case.
The government says the review would consider changes in life expectancy as well as wider changes in society and “make sure that the state pension is sustainable and affordable for future generations.”
The results of the government review will be published next May.