The State pension age is being raised to 68 and then 70 in a move which the Government say will save billions but i have never really been able to decide if the pension age should go up or down.
If it goes down and people retire earlier then it frees up jobs for the upcoming generation who will lock up these jobs for a further half a decade if the retirement age is raised from 65 to 70.
The plus side for the Government is that they will save 5 years of paying pensions and being cynical, more deaths which means less pensioners to pay when they hit 70 so more savings.
Working to 70 is far easier if you have a nice office job but asking people who work in far tougher environments, bricklayers for example who suffer massive wear and tear on their bodies, to keep at it for another 5 years is a much tougher ask.
Each year later is a year more of us paying in and a year less of them paying out but more importantly it's a year off your twilight pensioner years when you should be going on cruises around Scandinavia or shopping for cardigans.
Seems the Government austerity drive has cut all it can cut and they have began looking for other ways to plug the gap that strangely seems to be still growing despite Cameron and Osborne slashing and cutting everything in sight like madmen for the past eight years.