Tag: pension age

Military pension age to rise to 60

Military pension age to rise to 60

Members of the Armed Forces may have to wait until they are 60 to be able to claim their pensions under the government’s planned pension reforms. Military personnel are traditionally able to claim their pension at the age of 55, but those currently under the age of 45 could have to wait another five years. [...]

August 1, 2012 | 0 Comments More
Over-50s face 11-year retirement delay

Over-50s face 11-year retirement delay

People over the age of 50 will need to work for a further 11 years after they reach state pension age according to a new report. The Pensions Policy Institute claims that those who are unable to carry on working will struggle to maintain their standard of living. The report suggests that a single person [...]

April 25, 2012 | 0 Comments More
Tesco raises pension age to 67

Tesco raises pension age to 67

Supermarket retailer Tesco has increased its pension age by two years to 67 for the 170,000 employees who contribute to the company’s scheme. Tesco employees will still be able to retire from the age of 55 at a reduced pension rate, but they will only receive a full pension if they work until 67. The [...]

March 14, 2012 | 0 Comments More
Public sector pension reforms ineffective

Public sector pension reforms ineffective

An independent pensions consultant claims that the government’s proposed reforms to public sector pensions will result in no cost savings whatsoever. John Ralfe says that the savings which will be made by increasing the public sector pension age to 67 will be cancelled out by the faster build up of pensions in the new schemes. [...]

January 5, 2012 | 0 Comments More
Over 45s with kids unprepared for retirement

Over 45s with kids unprepared for retirement

People aged between 45 and 64 whose children are still living at home are much less likely to have made financial plans for their retirement than those in households with no children, according to new research. A study by Standard Life revealed that 49 per cent of this age group, with two or more children [...]

November 24, 2011 | 0 Comments More
Report suggests pension age will have to rise to 70

Report suggests pension age will have to rise to 70

A report by accountants PricewaterhouseCoopers (PwC) has waned that the pension age may have to rise to 70 by 2046 in order to deal with Britain’s debts. Current plans introduced by the coalition Government will see the state pension age lifted to 66 for both men and women by 2020. The pension age will then [...]

July 6, 2011 | 0 Comments More
New flat rate state pension scheme revealed

New flat rate state pension scheme revealed

The Government has now provided details of the new flat-rate state pension, as well as increases in the retirement age - due to be equalised at 65 by 2018. The state pension age will then be lifted to 66 for both men and women by 2020. Meanwhile, it was announced that the new pensions system [...]

April 5, 2011 | 1 Comment More
IoD calls for increase in pension age

IoD calls for increase in pension age

The Institute of Directors (IoD) is calling for the UK state pension age to increase to 70 as soon as “reasonably practical” due to “greatly increased” longevity. The group argued that the state and private pension systems had become so complex that people were being deterred from saving for their retirement. The group is also [...]

October 19, 2009 | 0 Comments More
Pensions Regulator warns of rising retirement age

Pensions Regulator warns of rising retirement age

David Norgrove, chairman of the Pensions Regulator, has told the BBC that he believes the retirement age could exceed 68 years of age. Currently, the state pension age is 60 for women and 65 for men, this is set to rise to 68 and there are no plans to raise that, according to Pensions Minister, [...]

August 10, 2009 | 0 Comments More