Changes to pension age 'to be staggered'
www.moneynews.co.uk > Pensions calculator > Changes to pension age 'to be staggered'
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Money News |
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Changes to pension age 'to be staggered'
Tue 18th Oct 2011
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Steve Webb, minister of state for pensions, told listeners to the BBC Radio 4 Money Box podcast that the changes are taking place over several years in order to ensure no women are forced to work for longer than 18 months more than they had planned to.
He commented: "I accept even 18 months is a significant change, but at a time when money is very tight, finding a billion pounds to help those most affected we felt was a fair balance."
Mr Webb added that once the ages for retirement are equal at 65, the next step will be to raise the threshold for retirement for both sexes to 66 by 2020.
According to Phil Stevenson, chartered financial planner at Ark Financial Planning, achieving the best return on pension investments is of paramount importance for Brits to ensure they are able to have a comfortable retirement.
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