Govt brushes off calls to lower state pension age - FTAdviser

Aug 3, 2021 · The government responded to a petition urging it to lower the age at which people can receive their state pension to 60, to benefit young people.

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Their Social Security Benefits Were Slashed. Now They’re ... - MSN

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He had waited until his full retirement age to claim benefits, at which point he should have received $1,000 per month. Instead, he’s been receiving 40% less for the past decade — or …

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FAQs about Govt brushes off calls to lower state pension age - FTAdviser Coupon?

Should the DWP reduce the state pension age?

The current state pension age is 66 for men and women but some experts have called on the DWP to considerably reduce it. The idea was put forward by Steven Cameraon, pensions director at Aegon, with those who cannot work because of ill health or caring responsibilities given the option to take their state pension "up to three years earlier". ...

Should a pension age be lowered to 60?

While there would be a financial cost to the Treasury, they say paying pension benefits earlier would be "more positive" than having to top young people up with Universal Credit. The Department for Work and Pensions (DWP) says lowering the state pension age to 60 would place an unaffordable and unfair burden on taxpayers. ...

Did the government 'unjustified' reject state pension compensation for women?

Campaigners have reacted with fury to what they call the government's "unjustified" rejection of compensation for women hit by changes to the state pension age. They say 3.6 million women born in the 1950s were not properly informed of the rise in state pension age to bring them into line with men. ...

What is the DWP doing about the cost of living crisis?

The DWP has moved to address the calls amid the ongoing Cost of Living crisis many households are struggling with. "We want to ensure the state pension remains the foundation of income in retirement for future generations in a way that it is sustainable and fair," the DWP said. ...

How will the Ombudsman's report affect pension communications?

The work and pensions secretary said the government would develop an action plan to fix problems identified in the ombudsman's report, and set a clear notice of any future changes to the state pension age. She said that future pension communications would also use "the most up to date methods" to contact those affected. ...

What is the new age threshold for a state pension?

The age threshold was increased to 66 for everyone last year with further phased increases to age 68 planned. Until 2010, the state pension age was 60 for women and 65 for men, but qualifying ages were brought in line for everyone by 2018 and have been rising since. ...