One in five people will never get a pension if the government raises the retirement age to 70 because they will be dead before then the TUC says in new pensions research.
Its statistical findings suggest a third of all men would die before that age – rising to half of men and a third of all people in the UK’s most economically disadvantaged areas.
The publication of the research comes just days before a 19 June mass pensions rally planned for central London by the TUC’s member unions.
”Official figures show that in England and Wales one in six, 16.7%, of the population die before they reach 65, and a further 7.1 per cent die before they turn 70,” the TUC says.
”This means that one in four, 23.8%, would not get a pension if the pension age was raised to 70.”
These findings suggest that those arguing for a higher retirement age would be forcing many people to literally “work until they drop”, particularly in poorer areas, the TUC adds.
Brendan Barber, general secretary, says the findings support the TUC’s position that those arguing for the higher retirement age are those best equipped to deal with such a change.
”I suspect many of those who say we should all work longer have good jobs behind desks and their own substantial pension savings,” he says.
”It is simply not an option for many manual workers to carry on working until they are 70. They will either die or be forced on to benefits before they can claim their rightful pension”IFAonline
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