Future of State Pension Triple Lock and retirement age could be impacted by current birth rates
The UK Government’s second review of the State Pension age is due to be published in May. The latest review into the official age at which someone can retire, now 66 for both men and women, launched at the start of last year and is considering whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence.
Ms Morrissey said that the birth rate combined with increasing longevity has huge consequences for State Pension policy. In Scotland, the 47,786 live births registered in 2021 is the second lowest annual total since records began in 1855. Top Money Stories Today Ms Morrissey said: “The new birth rate data shows little evidence of the much talked about pandemic baby boom and alongside increasing longevity shows the fine line that needs to be tread on State Pension policy. Birth rates shift over time - we saw birth rates well in excess of 700,000 and even 800,000 per year in the 1960s and the post war era but the trend in recent years is downwards.
French unions have also announced new nationwide strikes and protests for January 31 against the plans to raise the retirement age. Those who started to work early, under the age of 20, and workers with major health issues would be allowed early retirement.
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