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Government pension payments are available to most people when they are 66 years old. However, the state retirement age will eventually be raised to 68 under current regulations, and those born in their 50s can receive their payments in a variety of circumstances.
Men who were born before 6. April 1951 and women who were born before April 6, 1951. In contrast to the new state pension, those born in April 1953 can apply for a so-called basic pension.
All of these rules are constantly being reviewed and changed as new life expectancy data emerges, which can prove costly to retirees.
Recently the PPI conducted research on life expectancy in the UK and its impact on retirement prospects.
While they found that the average likelihood of reaching state retirement age has improved by two percent over the past 70 years, overall healthy life expectancy of women is expected to decrease.
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For women in the most deprived areas, a decrease of 52 is projected. 4 years in 2012 to 50. 9 years in 2030.
PPI Notes These trends occur as the retirement age continues to rise, which could affect the retirement prospects for the female population, particularly in disadvantaged circumstances.
The report stated that if women hit these projections, they may spend more time in poor health before they reach state retirement age.
As the report stated, « If these trends of a widening gap between life expectancy and healthy life expectancy continue, future generations of disadvantaged people may find it increasingly difficult to work longer before retirement due to poor health.
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« This could create difficulties in ensuring financial adequacy in retirement, especially for the most deprived with the lowest life expectancy. «
It should also be noted that those within the 20 percent of the lowest income approaching retirement age are less likely to recover from physical injuries, further reducing their prospects.
In this context, the PPI also noted that women could potentially spend more time in poor health before receiving their state pension.
Concerns about the age of the state pension have become a problematic issue for the government, and in recent years various groups have emerged to urge the state to change, including Back to 60 and WASPI.
Last year Boris Johnson noted that he would look into the issues outlined by these groups, but no official changes have come to light so far.
Only speaking to Express lately. co. Commenting on the Prime Minister’s efforts, the UK, WASPI’s Communications Director Debbie de Spon, said: « He has done nothing. He didn’t do anything or just came back and said no, nothing more can be done.
« Any communication women get now comes from Guy Opperman and he talks about all of the fantastic programs that have been introduced and all of the benefits available to women and the Kickstart program and how tough it is the government is working to make things right for people.
« And the WASPI problem will be whitewashed completely. It’s almost as if we were written out of history.
Ms de Spon further emphasized that this year the focus has understandably shifted to the coronavirus pandemic, adding: « And how this affects young people.
« We don’t want our children and grandchildren to be disadvantaged, but I think any WASPI woman can see that something has gone very wrong here that the government is not addressing. «
It remains to be seen whether the government will change the state pension in light of life expectancy concerns.
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World News – AU – State Pension UK: Life expectancy of women is expected to decrease as retirement ages rise
Ref: https://www.express.co.uk
