How much should pension age rise?
www.moneynews.co.uk > Pensions > How much should pension age rise?
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How much should pension age rise?
Fri 28th May 2010
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Robin Ellison, partner at Pinsent Masons, explained people are living longer and all three main political parties are in agreement that the retirement age must be increased.
He remarked: "I don't think the politicians want to frighten horses, they are just saying it is going up [by] one year but everybody knows it is going to have to go up [by] four or five years at least."
Mr Ellison claimed it is widely believed in the pensions sector that the pension age will be 70 within the next decade.
The recent Queen's Speech included the news that this subject will be reviewed by the current government, since the pensions and savings bill at the moment is only set to increase the retirement age to 66 between 2024 and 2026.
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