LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Government could raise state pension age – London Business News | London Wallet

Philip Roth by Philip Roth
July 21, 2025
in UK
Government could raise state pension age – London Business News | London Wallet
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

What I’m buying from the 2025 Marks & Spencer x Bella Freud drop

The Celebrity Traitors: Two players banished and another murdered

Police appeal following attempted rape in Islington

The state pension age could increase amid the rising costs of the triple lock and MPs are starting an assessment of the age that people retire.

This could potentially change the retirement age for when people can claim state pension, the government must deliver their findings by March 2029.

For 2026 to 2028 under the current plans people will be allowed to claim their state pension from 66 to 67 and from 2044 to 2046 the age will rise again to 68.

The government will unveil their new Pensions Commission will look into the state pension, it will be announced later today.

The Pensions Minister Liz Kendal said,  “many workers are more concerned about putting food on the table and keeping a roof over their heads than saving for a retirement that seems a long, long way away”, and that many businesses “face huge challenges in keeping profitable and flexible in an increasingly uncertain world.

Kendal added, “Just because pensioner poverty has fallen does not mean all the problems have gone away.

“Far from it. Women who are now approaching retirement have half the private pension wealth of men, so the average woman in her late 50s can expect a private pension income of just over £100 a week, compared to £200 a week for men.

Only one in five of the self-employed are saving into a private pension, down from half in the late 1990s, meaning over 3 million self-employed people aren’t saving anything at all for their retirement.

Catherine Foot, the director of the Standard Life Centre for the Future of Retirement said, “The state pension plays a fundamental role in people’s retirements, so it makes sense that its role is considered as part of the broader question of saving adequacy. Any change will need to be very carefully considered, especially as state pension age is due to start rising to 67 next year already.

We believe that any proposed change must satisfy the principles of fairness, adequacy, and long-term sustainability.”

Caroline Abrahams, the charity director at Age UK, added: “There’s no getting away from the fact that the state pension provides the bulk of retirement income for most pensioners, with 1.1million (13 per cent) receiving all their income from the state.

It’s therefore hugely important to consider the future of the state pension alongside the role of private savings, as only once this is clear will it be possible to say with any accuracy how much people need to put aside to attain a decent standard of living once, they retire.



Source link

Share30Tweet19
Previous Post

Ethereum mirrors stocks as ETH price chart hints at ‘final surge’ to $8K

Next Post

Building owners face fines and jail if they miss new remediation deadlines | Property Week

Philip Roth

Philip Roth

Recommended For You

What I’m buying from the 2025 Marks & Spencer x Bella Freud drop
UK

What I’m buying from the 2025 Marks & Spencer x Bella Freud drop

October 16, 2025
The Celebrity Traitors: Two players banished and another murdered
UK

The Celebrity Traitors: Two players banished and another murdered

October 15, 2025
Police appeal following attempted rape in Islington
UK

Police appeal following attempted rape in Islington

October 15, 2025
Misconduct hearing of firearms officer who shot man dead collapses
UK

Misconduct hearing of firearms officer who shot man dead collapses

October 15, 2025
Next Post
Building owners face fines and jail if they miss new remediation deadlines | Property Week

Building owners face fines and jail if they miss new remediation deadlines | Property Week

Related News

Meta gets court win in metaverse acquisition plans: Report

Meta gets court win in metaverse acquisition plans: Report

February 1, 2023
As the cost of living skyrockets, 23% of couples stay together mainly because of money constraints

As the cost of living skyrockets, 23% of couples stay together mainly because of money constraints

March 31, 2023
Sunak faces questioning by senior MPs on Liaison Committee

Sunak faces questioning by senior MPs on Liaison Committee

July 4, 2023

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?