State pension: Rishi Sunak urged lower age to 63 to ‘free up grandparents for childcare’ | Personal Finance | Finance


State Pension age is currently set at 66, following gradual increases in the last few years. Traditionally, state pension age was set at 60 for women and 65 for men, but age parity was reached in November 2018. Subsequently, Britons have seen this rise since to 66, with further increases planned later down the line.

One petition, however, seemingly argues these changes were a mistake, calling for not only a reversal of them, but also for the state pension age to be lowered.

Entitled “Reduce the state pension to 63 for all”, it has been published on the official Parliament website.

Amongst a number of reasons, the petition cites the need to “free up grandparents to support their children with childcare when they are working”.

With childcare costs often described as burdensome by working parents, the petition posits familial care as a solution which could be reached by a lower state pension age.

READ MORE: Lloyds Bank warning as ‘lured in’ Briton loses over £2,000 to scam

Furthermore, it states, a younger state pension age can “protect elderly people from needing to work if their job is too demanding”.

Currently, the petition has garnered just over 700 signatures, meaning it is a way off gaining a formal Government response.

It is at 10,000 signatures the Government will officially respond to this petition.

If a petition gains 100,000 signatures, however, it could be considered for debate in the Commons.

The state pension age is increasing due to a rise in life expectancy within the UK.

The Government has asserted Britons are more likely to spend a larger proportion of their adult lives in retirement than ever before.

Those who wish to find out more about their state pension can use the official forecast tool.

Accessible online, it can tell Britons when they can expect to retire, with how much, and how they might be able to increase their sum.

The Government’s state pension calculator can also show entitlements such as Pension Credit and free bus travel. 

Previously, a DWP spokesperson told “The Government decided over 25 years ago that it was going to make the state pension age the same for men and women as a long-overdue move towards gender equality. 

“Raising state pension age in line with life expectancy changes has been the policy of successive administrations over many years.” has contacted the Department for Work and Pensions (DWP) for comment on this petition. 

Source link


Please enter your comment!
Please enter your name here