08 May 2009
According to a report by the National Institute for Economic and
Social Research (NIESR), the Government will have to raise the
state pension age if it is to reduce public debt. NIESR says that
the age limit should rise to 70 between 2013 and 2023.
Under existing plans, between 2010 and 2020, the state pension
age for women will increase to 65 to ensure equality. Women born on
or between 6 April 1950 and 5 April 1955 are affected by this
change.
Between 2024 and 2026, 2034 and 2036 and 2044 and 2046, the
state pension age for both men and women will rise to 66, 67 and
68, respectively. Those born after 5 April 1959 are affected by
these changes.
Other proposals put forward by NIESR included raising the basic
rate of income tax by 15p in the pound or slashing Government
spending by a tenth.
