Working until you drop
July 27, 2018An estimated 23 million people will need to keep working beyond retirement age, according to new research by Canada Life.
The rising cost of living, the decline of many final salary occupational pension schemes and poor returns on savings mean that up to three quarters of British workers simply cannot afford to retire.
Almost half will be over 70 before they can give up work — up from 37 per cent last year.
By October 2020, the State Pension Age (SPA) will go up to 66 for both men and women before rising to 67 by the end of 2028. The government is also keen to introduce a SPA of 68 in 2036 seven years earlier than originally planned.
Our call for a “Living State Pension” underlines our campaign, standing up for today’s and tomorrow’s pensioners!