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Thursday, June 24, 2010

Pension Age Rises

As part of the plans to put the country's finances back in order, the government have announced that the state pension age for men will rise to 66 from 2016 (ten years earlier than originally planned).

Additionally, the default retirement age (when companies can force employees to retire at age 65) will also be scrapped.

These plans kill two birds with one stone:

1 Pension payments are deferred/lessened.

2 The longer people work, the earlier they die.

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