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Equality North East

Increases to state pension age ‘could have far-reaching consequences for workforce morale

Employers should be aware of the long-term impact changes to the state pension age could have on their workforce, experts have warned, as the government’s incremental increases for men and women came into effect for the first time.

Under the change, the age at which an individual can begin claiming their state pension has increased in three-month brackets depending on their date of birth. Those closest to retirement have seen the smallest increase, while younger workers can now expect to wait until they are 68 before they can claim.

While women have been subject to state pension age increases since April 2010 – after the Pensions Act 2011 brought their pension age up from 60 to 65, in line with men – this will be the increase for men since the current system was introduced in 1948.

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December 7, 2018

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