Government 'pushing retirement calculator reforms through very quickly'

www.moneynews.co.uk > Retirement calculator > Government 'pushing retirement calculator reforms through very quickly'

Government 'pushing retirement calculator reforms through very quickly'

Thu 23rd Jun 2011

The reforms to the state pension age are being pushed through very speedily by the coalition government, noted one finance expert.

In a BBC Wake Up to Money podcast, Hargreaves Lansdown head of pensions research Tom McPhail explained that the previous Labour leadership had agreed to raise this threshold steadily until 2020.

However, he described how the Conservative-led government saw a need for everything to be done much quicker and it has led to problems, with women of similar ages being told they can draw their pensions at different times.

"We're having to have these very tough negotiations with the public and we've got to get everybody's state retirement age up later because we're all living longer," Mr McPhail remarked.

Saga chief Dr Ros Altmann has criticised the government's approach to the issue and called for a compromise to be made to protect those women who would suffer hardship by not being able to draw their pension earlier.

Click here for more retirement calculator news

Related News : Retirement calculator
	Many Brits 'failing to save for retirement'
	Older Brits 'must get all the benefits they are entitled to'
	Many over-60s 'can just afford the basics'
	Older Brits 'feeling more of the strain'
	Over-50s 'suffering most from inflation'
	Retirees 'to challenge work-shy youngsters'
	Retirement incomes hit five-year low
	One-size-fits-all approach 'not right for retirement planning'
	Brits 'must reassess retirement plans'
	Homeowners advised to 'take small steps' when downsizing