Government pension revisions welcomed by experts

Government pension revisions welcomed by experts

The increase in the women's state pension age has been welcomed by industry experts.

Age UK, which has campaigned against the proposed increase in state pension age, have called the concessions on the pensions bill "significant".

"We welcome the changes that have been made, they have listened to our concerns and we appreciate that it is a significant financial commitment from the Government at a difficult time," stated Michelle Mitchell, charity directory of Age UK.

Under the new proposals, which will cost the government £1 billion, 330,000 women who would have had to wait up to two more years to receive their pensions will have their wait cut down to 18 months.

Proposals to initiate a six month respite are currently going through parliament and will be amended from the current time table.

The government brought forward the increase in state pension age to 66 to account for the increase in life expectance and to avoid putting an unfair burden on the next generation.

However, while Age UK is pleased with the new proposals, they believe that they could have gone further.

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