Why the pen­sion age rise?

The Peterborough Evening Telegraph - - News -

THE coali­tion govern­ment wants to raise the age at which peo­ple are el­i­gi­ble to draw the state pen­sion faster than the pre­vi­ous govern­ment planned to do.

A for­mal con­sul­ta­tion will be held to set the date at which the state pen­sion age starts to rise to 66. It will not be sooner than 2016 for men and 2020 for women.

If it was post­poned by a year for the 690,000 men and women now el­i­gi­ble it is es­ti­mated to save £3.5 bil­lion a year.

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