State Pension Age to Increase

TheresaMay

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Moderator
DirtyBAT
#1
The increase in the state pension age from 67 to 68 will be brought forward, the Government has announced.

It will now take effect from 2037, seven years earlier than previously planned, Work and Pensions Secretary David Gauke revealed in the Commons.

The changes, which will be brought in over two years, will affect everyone born between 6 April 1970 and 5 April 1978.
Source: Sky News

State pension age increase brought forward

Interesting that the Government would announce this after the General Election - and predictable that Labour are already calling the changes "unfair".

Despite being one of the six million who will be affected by these changes, I'm actually in favour of this move and I'm glad to see a government having the courage to propose such a change in policy.

As most of you will know, approx 47% of the Welfare Budget goes directly on the State Pension and with people living longer, keeping the State Pension Age constant means it's only a matter of time before more drastic measures would have to be implemented.

It doesn't bode well for the "Nasty Tories" though - I suspect this will be seen as yet another ploy to "look after the older generation by robbing the younger ones of their futures".
 
#2
Source: Sky News

State pension age increase brought forward

Interesting that the Government would announce this after the General Election - and predictable that Labour are already calling the changes "unfair".

Despite being one of the six million who will be affected by these changes, I'm actually in favour of this move and I'm glad to see a government having the courage to propose such a change in policy.

As most of you will know, approx 47% of the Welfare Budget goes directly on the State Pension and with people living longer, keeping the State Pension Age constant means it's only a matter of time before more drastic measures would have to be implemented.

It doesn't bode well for the "Nasty Tories" though - I suspect this will be seen as yet another ploy to "look after the older generation by robbing the younger ones of their futures".
Might as well rob them more, most of them can't afford to buy a property anyhow.
 

jarrod248

LE
Gallery Guru
#3
Source: Sky News

State pension age increase brought forward

Interesting that the Government would announce this after the General Election - and predictable that Labour are already calling the changes "unfair".

Despite being one of the six million who will be affected by these changes, I'm actually in favour of this move and I'm glad to see a government having the courage to propose such a change in policy.

As most of you will know, approx 47% of the Welfare Budget goes directly on the State Pension and with people living longer, keeping the State Pension Age constant means it's only a matter of time before more drastic measures would have to be implemented.

It doesn't bode well for the "Nasty Tories" though - I suspect this will be seen as yet another ploy to "look after the older generation by robbing the younger ones of their futures".
Pension age changed not long ago, said would be protected I thought, what has changed?
 

TheresaMay

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Moderator
DirtyBAT
#4
Pension age changed not long ago, said would be protected I thought, what has changed?
Originally the plan to change it from 67 to 68 wasn't to happen until 2044. Now it will be 2037 (see quote above) - meaning another six million people (those aged between 39 and 47) will now have to work an extra year.
 

Auld-Yin

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#6
Pension age changed not long ago, said would be protected I thought, what has changed?
They are bringing forward the timescale, so rather than this coming in to effect seven years earlier by 2037 rather than 2044. My kids drop in to the age group affected.

I am surprised that this has been announced now and not tacked on to the autumn budget. Still, gets it out of the way as the MPs all disappear on their long summer hols.
 

jarrod248

LE
Gallery Guru
#7
Originally the plan to change it from 67 to 68 wasn't to happen until 2044. Now it will be 2037 (see quote above) - meaning another six million people (those aged between 39 and 47) will now have to work an extra year.
Based on what? I thought everything was rosy after Brexit happens? I certainly don't trust the Bank of England who keep chucking out fibs. Where has this come from and why not in manifesto?
 

jarrod248

LE
Gallery Guru
#8
They are bringing forward the timescale, so rather than this coming in to effect seven years earlier by 2037 rather than 2044. My kids drop in to the age group affected.

I am surprised that this has been announced now and not tacked on to the autumn budget. Still, gets it out of the way as the MPs all disappear on their long summer hols.
On what evidence?
 
#10
They are bringing forward the timescale, so rather than this coming in to effect seven years earlier by 2037 rather than 2044. My kids drop in to the age group affected.

I am surprised that this has been announced now and not tacked on to the autumn budget. Still, gets it out of the way as the MPs all disappear on their long summer hols.
I think you may well have accidentally stumbled onto the reason the announcement was made today.
 

TheresaMay

ADC
Moderator
DirtyBAT
#13
Based on what? I thought everything was rosy after Brexit happens? I certainly don't trust the Bank of England who keep chucking out fibs. Where has this come from and why not in manifesto?
Well according to David Gauke, they've done the sums and figure this would save £74bn

With people living longer and drawing on the State (currently at the ripe old age of 65) it was only a matter of time before someone had to tackle this issue.

But as usual, it's the way they go about it that rattles people.
 
#14
Based on what? I thought everything was rosy after Brexit happens? I certainly don't trust the Bank of England who keep chucking out fibs. Where has this come from and why not in manifesto?
All the pensions stuff in the manifesto got shredded after the failure at the ballot box, was obvious things were going to change.

Personally, I reckon you'll be lucky to see a state pension in the next 15 years
 

Sixty

ADC
Moderator
Book Reviewer
#15
Originally the plan to change it from 67 to 68 wasn't to happen until 2044. Now it will be 2037 (see quote above) - meaning another six million people (those aged between 39 and 47) will now have to work an extra year.
The Boomers, having secured their own state pension, pulling the ladder up behind them? Say it ain't so!

See also: university tuition fees.
 

jarrod248

LE
Gallery Guru
#17
Well according to David Gauke, they've done the sums and figure this would save £74bn

With people living longer and drawing on the State (currently at the ripe old age of 65) it was only a matter of time before someone had to tackle this issue.

But as usual, it's the way they go about it that rattles people.
Well they've raided private pensions, put an end to most final slary schemes, done away with pensions that retire early due to being high stress such as fireofficers, police and so on, increased pension age, increased it again and are looking to increase it to 70yrs old.
At what time will they actually realise it's our taxes that pays for it all and we may not want to work forever.
 

jarrod248

LE
Gallery Guru
#19
The Boomers, having secured their own state pension, pulling the ladder up behind them? Say it ain't so!

See also: university tuition fees.
Baby boomers, that old chestnut, they didn't even have telly's or cars, may have had a final salary pension but of course a lot would have died younger anyway.
 
#20
Well they've raided private pensions, put an end to most final slary schemes, done away with pensions that retire early due to being high stress such as fireofficers, police and so on, increased pension age, increased it again and are looking to increase it to 70yrs old.
At what time will they actually realise it's our taxes that pays for it all and we may not want to work forever.
They won't, you'll get squat, Dignitas is the only option
 

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