Naismith's guide to State Pension Age changes

The change to state pension age (SPA) increases had been widely trailed before the Comprehensive Spending Review announcement, and the only surprise was the timing. The increase to 66 will take place later than expected for men, but slightly earlier than expected for women. It is widely agreed that SPAs need to increase steadily over the next 40 years, because otherwise paying them at an acceptable level would rapidly become unaffordable. The ‘baby boomers’ are approaching retirement and are likely to live for much longer than any previous generation and, with state pensions being paid f...