Thousands more will die with no state pension if the age rises to 68
THOUSANDS more will die with no state pension if the age you get it rises, ministers have been warned.
Yesterday The Sun revealed plans to increase that age to 68 as early as 2035.
Towns with the lowest life expectancy rates such as Blackpool, Glasgow and Nottingham will be worst hit.
The pension age is due to go up from 66 to 67 by 2028.
The next rise, to 68, was set for 2046 but ministers want to bring that forward as the population ages and birth rates plummet, meaning few young people to pay the tax bill.
The Treasury is said to want the change to 68 as early as 2035, affecting those who are 54 and under today.
The Department for Work and Pensions is resisting such a dramatic move.
A Government source said: “There is a real risk more people will die before they can draw their pensions.”
The charity Age UK warns 3.5million people of pre-retirement age are already out of work, in poor health and with few savings at retirement age.
A third have savings of less than £5,000 and more than 100,000 families have no savings.
Age UK is today begging ministers not to raise the age again, as it will “consign hundreds of thousands to a difficult and impoverished” later life.
Caroline Abrahams, charity director at Age UK, added: “There is no justification for raising the state pension age at the moment, especially as those who will lose out most are those unable to work due to ill health and caring responsibilities, as well as anyone who becomes unemployed in mid-life then finds it impossible to get another job.”
Helen Morrissey, senior pensions and retirement analyst at financial services firm Hargreaves Lansdown, said: “Many are unable to keep working into their late sixties, so may face severe difficulties if they don’t have decent pensions.”