MPs back women working until 66

Posted on 22 June 2011

In a move likely to affect the long term care plans of women currently in their 50s, MPs have backed a bill to increase the retirement age to 66.

If the much-debated plans go ahead, women will have to work until the age of 65 by 2018, and 66 by 2020. The men's retirement age will also increase to 66.

Critics say that the timescale of the plans is unfair and may mean that women who have already made retirement plans must continue to work for over a year longer than they originally planned to.

However, the House of Commons backed the move, with a majority of 70 votes winning the bill a second reading.

Sky News reports a spokesman for prime minister David Cameron as saying: "Everyone agrees on the need to equalise the pension age and to ensure that our system is affordable.

"You've got to deal with the reality of the situation. If we don't change anything the system is completely unaffordable."

Meanwhile, research from Aviva has revealed that 70 per cent of people are now more worried about how they are to fund their retirement.

Posted by Nigel Murphy

 

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