StockMarketWire.com - Saga is urging the Government to rethink its plans for accelerating state pension age increases.

It says the current proposals involve both gender and age discrimination.

Saga says it supports the Government's intention to accelerate increases in state pension age, in recognition of the great news that people are living ever longer.

Life expectancy is rising faster than anticipated by the 2005 Pensions Bill, and the costs of supporting an increasingly ageing population will clearly require adjustment in the age at which state pensions start to be paid in future.

But Saga believes people need fair notice of future changes, giving them reasonable time to prepare.

And it says the current proposals do not do this as six years' notice of up to a two-year delay in pension age clearly does not provide time to make alternative arrangements.

Director-general Ros Altmann said: "The particular women affected by the proposals, aged around 56 or 57, and men of similar age who would have needed Pension Credit, are shouldering a clearly disproportionate share of the cost savings on pensions that are needed to help improve the nation's long-term financial health."




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