Increase in State Pension Age

I don't understand the argument about those who will be poor in retirement as surely working for longer will give them the opportunity to save for retirement or, at the very least, they will be better off in work for longer?

Where are the jobs though?

Women born from 1953 and men born from 1951 are liable for the flat rate pension which will leave huge numbers with NIL STATE PENSION FOR LIFE
after 7 years lost state pension payout for a couple (6 years for women and 1 year for husband).
https://you.38degrees.org.uk/petitions/state-pension-at-60-now

Half of over 50s / over 60s are within the working poor and cannot save a penny from low wages so low as cannot afford to heat and eat.

The majority reason this age group not in work is due to being disabled / chronic sick and these benefits being lost more and more, and may end altogether with the Autumn Budget telling us that state spending will return to the levels back in the 1930s, before the 1945 welfare state.

A Labour former deputy prime minister has found that the £30 billion that is our state pension money in the National Insurance Fund is being called a surplus and denied payout to many women and men who need the money to buy food, with disability / chronic sick benefits being lost more and more and jobs on too low wages to barely be on the bread line.

The full and ring fenced National Insurance Fund, has not needed a top up from tax for decades.

Whilst people are denied state pension payout, payable even if remain in work, women MPs have kept their works pension payout at 60 (and men MPs at 65) and all MPs, again on the taxpayer, gain an 11 per cent pay rise for about the same amount as the denied state pension payout to women at 60 from 2013.

Whilst vital money is not paid to the poor, from our state pension money, paid at 12 per cent compulsory deductions from our wages all our working lives (plus the equally compulsory contributions from our boss) or earned from disability / chronic sick benefits / child or elder care credits.
https://you.38degrees.org.uk/petitions/state-pension-at-60-now

Nonnie, it's true that many people are fit and well at 66, but many of us aren't. I won't be the only person on gransnet who retired earlier than I'd planned, due to significant health problems. I've been fortunate and paid into a good pension fund for over 30 years, as well as the state pension. I feel for people forced to manage on a state pension alone. Also for the women who retired from work because of health problems, in their late 50's with the belief they would get their state pension at 60. They're now without an income and still unfit for work. Signing on at 63 isn't what they'd expected.
I'm not an economist but I do wonder about all those unemployed young people and whether we'd be better to allow everyone to retire in their early sixties (if they want to) and make room for the younger folk in the workplace.

I slipped under the wire and got my pension at 60. DH is younger and still working so we've been able to save most of it. Nice nest egg to supplement finances when he does retire.

I have now discovered that the single tier pension is another 'con'. I recently contacted the Pension Service for my personal forecast and could not understand why I would not be receiving the full single tier pension as I have full NI contributions. The full rate of the new State Pension is currently estimated to be at £148.40. The reason is because I have a very small occupational pension and "we made a deduction because you have been contracted out of the additional State Pension at some time". It is explained more fully in this article:
www.thisismoney.co.uk/money/pensions/article-2634215/Why-millions-WONT-155-new-state-pension-theyre-expecting.html

Perhaps you might want to make others aware of this 'con'.

Please continue to circulate the petition amongst family and friends:
you.38degrees.org.uk/p/statepensionlaw

Just to let you know the petition is being handed in on Tuesday 24 March at 1pm. Details here:
https://you.38degrees.org.uk/events/petition-hand-in-reverse-the-state-pension-law
Please join us and support us if you can.