Retirement under the coalition Government

The new coalition government has declared that the state retirement age is to rise to 66 by no later than 2016 for men and 2020 for women.  This, and plans to restore the state pension link with average wages, is a major shift in the UK pensions system which will have a significant impact. Prudential’s recent Class of 2010 study found 57% of people planning to retire this year would be willing to work on in order to guarantee a higher retirement income. Up to 25% would be willing to work for another five years while 7% would be happy to work another 10 years. Over 65s are most willing...