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Millions forced to work an extra YEAR as Tories bring forward huge pension age hike

Discussion in 'Headline News' started by Ome, Jul 19, 2017.

  1. Ome

    Ome Admin

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    Tory ministers today announced they will start raise the pension age to 68 in 2037 - seven years earlier than planned


    Millions of workers in their 40s will be forced to graft for an extra YEAR after the government brought forward a massive pension age hike.

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    The news will be a devastating blow to millions of workers in their 40s who only expected the rise in 2044, after they had already retired.

    And it could have a knock-on effect to workers under 40 after a review said the retirement age could rise by one year every decade.

    Work and Pensions Secretary David Gauke said the news had come after a long increase in life expectancy, piling on costs to the government.

    "Even under the timetable for the rise I'm announcing today, future pensioners can still expect to spend on average more than 22 years in receipt of the state pension", he said.


    But the announcement came just days after a report this week said British life expectancy was stalling for the first time in 100 years.

    Those affected will be people born between 1969 and 1979. That means the vast majority of workers affected are currently in their 40s.

    Mr Gauke said the move would save £74billion on current plans and £250billion compared to Labour's vow to cap the pension age at 66 - which he branded "reckless, short-sighted and irresponsible".

    But Shadow Work and Pensions Secretary Debbie Abrahams said the plan was "astonishing" and "anything but fair".

    She told the House of Commons young people were already facing cuts to housing and welfare.

    "Most pensioners will now spend their retirement battling a toxic cocktail of ill health with men expecting to drift into ill health at 63 - five years earlier than this proposed quickened state pension age," she added.

    The change was recommended in a report by former CBI chief John Cridland just before the general election.

    SNP MP Kirsty Blackman said it was no surprise the Tories delayed the announcement until after the election because it "would undoubtedly have lost the Conservatives even more seats."

    Mr Gauke also ignored the Cridland Review's recommendation to scrap the triple lock, which ensures pensions rise each year by 2.5%, average earnings or inflation, whichever is highest.


    Ministers were forced to ditch plans to replace the triple lock with a double lock after demands by the DUP, who are propping up Theresa May in power.

    The Cridland Review had recommended going even further than Tory plans, saying rises should match average earnings only - which could see them slip behind inflation.

    But a DWP source said today: "At the moment we are committed to keeping the triple lock for the remainder of this parliament."
     
  2. Alexis

    Alexis Soap Chat Hero EXP: 12 Years

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    The Tories should just bring back work houses and kill off the sick and the infirm altogether they'd save even more money. Think of the wars they could fund then.
     
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  3. Angela Channing

    Angela Channing World Cup of Soaps Moderator EXP: 21 Years

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    I am one of the millions affected. People my age have been repeated shafted by this Tory government. This proposal wasn't in their manifesto so they have no mandate to do this but these people just don't care they will lie and deceive whenever they can to squeeze more money out of us to fund tax cuts for the rich and for corporations.
     

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