The head of the Pension Commission, recently unveiled a new pensions blueprint that will see workers paying more tax, saving more and working longer, to be able to fund their retirement. In return, they would be given the most generous pensions rise, and a pension tht rose in line with wages.
The plan would see todays school leavers working an extra 4 years to retirement, eventually earning their carriage clocks at the age of 69. Those in their twenties and thirties face working to 67, and those in their fifties, who are already looking forward to years of gardening and long walks could face an extra year at work.
Women have been given the dest deal for a change, with Lord Turner recommending that state pensions are made available to everyone over the age of 75. May women don't qualify, because they haven't worked for long enough, having taken time off to have children and care for relatives.
Although the Government will take months to respond to the Turner plans, and many of them remain in doubt because of worries over cost, ministers signalled backing last night for the principle of improving women’s pensions.
It was being pointed out by Mr Brown’s allies that on Lord Turner’s calculations his main plans would cost £16 billion by 2020, equivalent to 4p on income tax. Lord Turner himself admitted there were “different points of view” with the Treasury over how to proceed.
Your Comments:
Be the first to comment!