Retirement at 67
 

Having read some of the details of the Turner Report in the Daily Torygraph regarding pensions, how does not being able to draw a state pension until 67 effect those of us forced to retire at 60? Are those employed in the UK shovelling lots of money into private schemes or just keeping fingers crossed?

:confused:

Sounds like it'll work about like it has here in the States: Government says retire @ 60...government says you can't have Social Security until 62...government says, "Too bad for YOU".

I can just about see that govt. might "get away with it" over a 2 year period. But a 7 year gap?!

Trouble is with the 67yr state pension age not coming in until, best guess, 2050ish, who cares? I'm not being flippant, I mean you're max age 22 right now if this affects you and that probably also means it's not high on your list of priorities (well, wasn't on mine at 22!). Very clever, Mr. Hutton.

Of course, it will be stepped up to 67 or 68, and in any case, the concept is pretty hypocritical in itself.:yuk: At the very least, joined up government (assumption!) ought to be able to maintain the current 5yr gap with exactly the same longevity logic.

I'm sure someone will educate me on what BALPA really plan to do about this, other than suggest I save more than £1.4m...