Policy researcher Laurie Laybourn and journalist Laura Dodsworth discuss whether the Treasury should consider raising the retirement pension age to 68.
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Treasury considers raising retirement pension age to 68: Laurie Laybourn & Laura Dodsworth react
The UK Treasury’s recent consideration of raising the retirement pension age to 68 has sparked a wave of reactions from experts and citizens alike. One of the notable commentators on the matter is Laurie Laybourn, an economist who specializes in pension systems, and Laura Dodsworth, a renowned author who delves into societal issues. Both have offered their perspectives on this potential policy change.
Laurie Laybourn has raised concerns about the implications of an increased retirement age. He argues that while increasing the age may seem like a logical step to sustain the pension system in the face of a rapidly aging population, it may disproportionately affect certain groups, such as those engaged in physically demanding jobs or those with health concerns. Laybourn emphasizes the need for a fair and inclusive policy that considers factors such as health, life expectancy, and the ability to work beyond 65.
Moreover, Laybourn explains that any change to the retirement age requires careful consideration of the broader labor market. Raising the pension age may result in a longer working life for some individuals, which could have negative consequences for younger workers seeking employment. It becomes crucial to strike a balance that does not hinder the entry of new workers into the job market. Additionally, policy adjustments to protect those unable to work for extended periods due to health or other limitations must be in place.
Laura Dodsworth, on the other hand, believes that an increased retirement pension age is a sensible move in light of rising life expectancy. She argues that people are generally healthier and able to work for more extended periods than in the past. Dodsworth suggests that instead of viewing this change as a burden, individuals should embrace it as an opportunity to remain engaged and active in society for longer.
Dodsworth points out that many retirees find immense value and joy in continuing to work, even on a part-time basis, beyond the traditional retirement age. By raising the pension age, individuals can choose to maintain their economic independence, be actively engaged in their communities, and lead fulfilling lives. Furthermore, this change can help alleviate the strain on pension systems and address the funding challenges posed by an aging population.
Overall, the Treasury’s consideration of raising the retirement pension age has stirred debates about its economic and societal consequences. While Laurie Laybourn stresses the need for fairness and protection for vulnerable groups, Laura Dodsworth advocates for seizing the opportunity for continued engagement. As the discussions about this potential policy change continue, finding the right balance between sustainability, fairness, and individual choice will be crucial in shaping the future of retirement in the UK.
People may not be as slim as they in the 20’s or 30’s, but they retired at 65, but if they where lucky if they lived past 70/75. What jobs would most people in their late 60’s be able to do.
VOTE this SH.T TORY government OUT
It's disgusting I've paid national insurance for over 45 years and this greedy government are trying to withhold it from you however they are forking out over SIX MILLION a day for illegal MIGRANTS
They wish to work you until you drop, save them some money.
It's absolutely scandalous,the only reason they are putting retirement age up is because they hope people will die so they can't claim their pension,we need an uprising,corrupted politicians,that's all they are and always will be.
This country is an absolute joke
Time we rise up against this government, work to you drop is on the agenda, this government finds money for everything except it’s own people
I can't imagine working until 68. I am 41 and already get some pains here and there although I consider myself very healthy person. I am still very young.
Looking at my parents, who are now 68 and 69. I can't see them working till this age. Althought in good helth compared to others this age, they get tirrd very easily, they can't stand for too long, their eyesight is weak, their hearing is very weak and many more things. Fortunately they retired at their early sixties.
I retired at 62 which is normally but we're not paying for millions living free
Nut get rid of 15million people and let real englishmen retire at 62 this is terrible
It's ones health that determines life expectancy not ones age.
And yes the type of employment one does have can cause detrimental damage to ones health therefore retirement age for many they do not reach. The latter has to be taken into account and recognised as a fact not fiction.
If one wants to work past retirement age then do so. Not all want that and for many can't.
This is clearly Torie ideology an easy way to bring money into the coffers again workers pay the debt that they caused.
I have to write and add this part: Tories want citizens to work until they drop no pension at all
It’s farcical that this government wants to raise the retirement age to 68, whilst at the same time MPs can retire at 55. Here’s a suggestion for all of you pathetic MPs, do your jobs, stop paying £9 million a day to house and feed illegal migrants and focus on the working classes that have been paying your wages.
i retired at 59 ..i dont get a state pension until 67 ..i took out a lump sum which is not a lot ,just £50,000 and i get £159 per week ..luckily i own my own house , no mortgage , otherwise i would still have had to work ,and no family ..i just budget each week to hopefully make the £50,000 and the £159 as week last me another 7 years ,when i get my state pension ..67 is working till you drop ..
It's already too high should be 65 for both. people are paying in now around 50 years. Many people who have paid in are dead in their 50,s and 60,s. Uts just plain wrong to keep putting it up now.
Should we have public pensions? As I am coming up to the age of 66 my answer is yes, I have paid tax all my life and national Insurance contributions which was supposed to pay for this. What needs to be considered and the real elephant in the room is all the people who pay little or nothing through taxation or NI and prefer to sit at home taking from the tax payer for their entire lives. Also allowing millions into our country who are a negative benefit to the population who drain the public purse as this talk about pensions is about saving money nothing else. Money should be spent wisely yet it is thrown away yet denied to the best of us.
Well you can't import vast amounts of people and support them when they have and won't contribute and still have a decent standard of living.At least some are making vast amount from legal aid to help the invaders.
`Building HS2, to line the pockets of the rich. scrap it and Pay pensions, they are taking the piss
It’s not complex mate people eat too much and sit on their arses all day waiting for the benefits to go in the bank ☘️
it just boosts sick pay and unemploymant grow up we need sensible people in charge
Let's cut the age of an mp to 70 and and peerages 75 that should safe some money
??? If you paid national insurance … you should get your pension. You paid for it!
Three score and ten is just one govt term away.
Fine if you just sit on your arse all day
I'm 31 and thinking on saving heavy from next year. For people my age well be working till we're in a box.