Queen’s Speech 2012: Children born today ’will work to 80’ under pension reforms - Telegraph
►http://www.telegraph.co.uk/news/politics/9255536/Queens-Speech-2012-Children-born-today-will-work-to-80-under-pension-re
A planned increase in the retirement age to 67 will be brought forward to between 2026 and 2028, after which it will be linked to longevity for future retirees. Children born today may not be able to retire until they are 80.
A separate piece of legislation was also unveiled which will overhaul the pensions offered to public-sector workers, which will in future be calculated on the basis of “career average” earnings rather than a final salary. The schemes will also become cheaper for the taxpayer. The changes have been bitterly opposed by the trade unions in recent months.
