While it seems sensible to abolish the default pension age to allow people to choose when they retire, I have reservations that by increasing the pension payment age the country’s benefit budget will be reduced, unless we are in a period of full employment, which seems unlikely.
Every person who works beyond the age of 65 will mean one less job for those starting out and the benefit payment will just be transferred to the other end of the scale to the other.
Also, there are many in industry who will be physically unable to extend their working life, plus those who are “let go” as not being cost effective due to slowing down by comparison to younger employees.
These people will then sign on and receive benefits, in many cases superior to the basic pension until they reach retirement age.
There is only one outcome to be certain and that is British pensioners will remain among the lowest paid in western societies.
W H Diment
Church Road
Laindon
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