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Unions protest at rise in state pension age
by Daniel Grote on Aug 30, 2013 at 07:40
Raising the state pension age in line with increasing life expectancy risks exacerbating inequality in retirement benefits, according to a report from the Trades Union Congress (TUC).
The report claims that disparities in life expectancy based on gender, occupation and geographical area can lead to differences of up to £67,000 in the state pension received.
The state pension age is due to rise to 66 between 2018 and 2020 and to 67 between 2026 and 2028.
The TUC argued the rise would see those in poorer areas receive less state pension despite working for a further two years, as their life expectancy is not keeping pace with the increase.
‘The government’s decision to accelerate the rise in the state pension age will mean millions of people having to work for longer in order to receive less in retirement,’ said TUC general secretary Frances O’Grady.
‘There is already a shocking divide in life expectancies across England, and if current trends continue that inequality will get worse in the coming decades. The government’s pension reforms will add to the problem, with people in richer areas receiving more from the state, while those in poorer areas receive less.’
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