Tories raise retirement age 7 YEARS earlier than planned

The Tories have angered millions of British workers as they have found out they have to work an extra year before they get their state pension.

The age has been raised to 68, but instead of this being implemented in 2044, it will be implemented in 2037 – 7 years earlier than planned.

Pensions experts said more than six million people would be affected by the change, which will leave anyone aged 47 or younger having to work for an extra 12 months before they can claim their state pension.

Debbie Abrahams, the Shadow Work and Pensions Secretary, called the announcement “an astonishing continuation of austerity”.

She said “34 million people” would have to work longer than under Labour’s plans.

As stated in the Independent, the change, which will be brought in over two years, will affect everyone born between 6 April 1970 and 5 April 1978, who under current legislation had been due to retire at 67 but will now work a year longer.

No one born on or before 5 April 1970 will see a change to their current state pension age. There is also no change for those born after 6 April 1978, whose state pension age was already due to rise to 68. The current state pension age is 63 for women and 65 for men, with the former due to rise steadily until all workers retire at 65 by 2018.

From 2019, the state pension age will increase for both men and women, reaching 66 by 2020 and 67 between 2026 and 2028.

by Berk Bektas

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