Home UK Business Landmark day for state pension equality

Landmark day for state pension equality

UK Business 2018/11/06 at 9:00 AM
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The move to equalise male and female pension ages began 25 years ago, under John Major’s government, and has been gradually phased in.

Women who are 65 on 6 November will therefore be the first to wait for as long as men.

But critics say that women are still a long way from pension equality, as the amount they typically receive is lower.

For more than 60 years – up until 2010 – women received their pensions at the age of 60, but that has been rising ever since.

From now on, men and women will see their state pension ages go up in tandem – increasing to 66 by October 2020, and 67 by 2028.

The government has also accepted the findings of the Cridland review, which recommended that the pension age should rise further – to 68 – by 2039.

Longevity

The move to increase the state pension age is the result of increasing longevity.

A girl born in 1951 had a life expectancy of 82 years. A girl born today can expect to reach the age of 93.

Over the same period, boys’ life expectancy has increased from 77 years to 90.

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Source : BBC | Photo credit : Google

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