Monday, July 24, 2017

Pension losses

More than 7 million people will lose just under £10,000 each because of new government plans to increase the state pension age earlier than planned. Last week the government announced it would raise the state pension age to 68 for those now in their late 30s and early 40s. The change will affect Britons born between 1970 and 1978, who will now have to wait another year to receive their state pensions.

The House of Commons library found that each person affected by the change stood to lose around £9,800

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