State pension age rise could be brought forward – ‘A question of when, not if’ | Personal Finance | Finance
ILC said that the state pension currently costs the Government over £100billion a year and has increased three-fold since 2000.
Prof Les Mayhew, Head of Global Research at ILC, believes it is a foregone conclusion that the state pension age will continue to rise.
He said: “Deciding state pension age is not a trivial matter. The decisions made in the latest review will impact on the incomes of everybody, whether that be via pension benefits or taxes.”
“Frankly, we’re probably going to have to increase SPA further between 2030 and 2045 for it to be intergenerationally fair and fiscally sustainable.
“It’s not a question of ‘if’ but ‘when’ and ‘by how much’.”
Related Posts
Denial of responsibility! TechnoCodex is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.
