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£140 & pension age
wakeupalarm
Posts: 1,101 Forumite
George_Osborne wrote:"And we should also address the state pension system, which has become unbelievably complex.
If people can’t work out what they’re going to get in retirement, or how much will be clawed back by the means-tests – then they can’t work out what they need to save"
So they are going to change to a flat rate pension of £140 some time in the future because atm people can't work out what they're going to get in retirement. BUT at the same time they are going to link the retirement age to life expectancy. So now people will know what they are going to get in retirement (£140), but won't know when their retirement age is as life expectancy will change over time. :doh:
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