DWP verdict on calls to lower retirement age after petition is launched – .

DWP verdict on calls to lower retirement age after petition is launched – .

The Ministry of Labor and Pensions responded to requests for lower state pensions.
This comes after the launch of a petition urging the government to lower the age at which people can receive their state pension for the benefit of young people.

He is calling for older people to be reduced to 60 – instead of 66, to which they have been raised for both men and women in recent years.

The petition collected 10,000 signatures in a short period of time, forcing the UK government to issue a formal response.

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The petition read: “Young people are struggling to find work and are losing their jobs due to the pandemic. Why not allow older people to retire earlier, freeing up jobs for younger people?

“There would be a cost, however, surely a much more positive cost than paying Universal Credit? Not to mention the option of restoring the balance in favor of young people and helping to restore their future.

The UK government released a response which was released Wednesday July 28.

He replied: “Parliament has voted to equalize the state retirement age (ASP) and subsequent retirement ages for men and women. Reducing it to 60 is neither affordable nor fair to taxpayers and future generations. “

The statement, released by the DWP, said official statistics show that the number of people above PPS relative to working age is expected to “increase” in the near future.

He said people are living longer on average and that increasing PPS with changes in life expectancy helps maintain the cost and sustainability of pensions “in the long run”.

The DWP added: “The state pension is funded by tax contributions from the current working age population. Reducing the SPa to 60 would therefore increase the tax burden on the current working-age population.

He said previous estimates suggested that if the SPA had not increased, the total additional cost to taxpayers would have been around £ 215 billion between 2010/11 and 2025/26. This “takes into account the state pension, other retirement benefits and savings on working age benefits.”

Responding to concerns about employment, the DWP said “unprecedented” support has been given to help people “find work and acquire the skills they need to return to work.”

He mentioned the Kickstart program and said that since its launch last year, employers have created more than 247,000 “approved youth employment positions”. Around 44,000 young people are said to have started their work.

The petition has over 60,000 signatures at the time of writing. It will be considered for debate in Parliament if it reaches 100,000 signatures.

You can read the petition and see the full DWP response here. Information and resources on pensions are available on the UK government website here.

Anyone with information is urged to contact police on 101, citing newspaper 231 for July 30.

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