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16th September 2011
Keith Churchouse, director at Churchouse Financial Planning, explained that the state pension age will rise to 67, although this might not be the only increase on the cards.
He believes that in 2046, the state pension age will rise again to reach 68.
"It is a very good idea to explain to the general public that if they want to retire at 67 or before, they are going to need to take action now," Mr Churchouse commented.
He emphasised that with people living longer, there is even more need for money to be put aside in order to live a comfortable lifestyle in later life.
Prudential research recently showed that 35 per cent of workers in the UK do not have a company or private pension.
Raising of retirement age ''inevitable''
People need to start planning for an increase in retirement age, an expert says.
Keith Churchouse, director at Churchouse Financial Planning, explained that the state pension age will rise to 67, although this might not be the only increase on the cards.
He believes that in 2046, the state pension age will rise again to reach 68.
"It is a very good idea to explain to the general public that if they want to retire at 67 or before, they are going to need to take action now," Mr Churchouse commented.
He emphasised that with people living longer, there is even more need for money to be put aside in order to live a comfortable lifestyle in later life.
Prudential research recently showed that 35 per cent of workers in the UK do not have a company or private pension.
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