Jul 27 2007
The Department for Work and Pensions (DWP) has announced some of the latest reforms to state pensions provisions the will be brought in over the next fifty years.
Among the changes due to come in by 2046 is the raising of the state pension age to 68 for both men and women across the UK, with the government expressing its satisfaction at arriving at a consensus of having Britons work for longer.
Secretary of state for work and pensions Peter Hain said: "It is a tribute to the consensus we've built that there is now widespread agreement that people will need to work longer in the future - it would be wrong to leave it to future generations to foot the bill for people living longer."
In addition, from April 6th next year the required length of time that men and women in the UK need to work before they are entitled to a full state pension will fall to 30 years.
Earlier this week, the Association of British Insurers welcomed a DWP report calling on private pensions schemes to take a "principles-based" approach to their service offerings.
