The Government has outlined its quest to get people to work longer, by offering a lump sum payment in excess of £30,000 for people wanting to delay their state pension by five years.
As part of a five-year strategy announced by the DWP yesterday, secretary of state for Work and Pensions Alan Johnson said people choosing to defer their pensions for five years and retiring at age 70, would be eligible for a one-off payout of £32,306 from April. The DWP even went as far as sketching a figure of £77,090 for those people wishing to extend their working ability by ten years, pushing retirement to 75. The DWP highlighted its pledge under a banner of ‘choice’ for older workers to decide how and when they retire, while falling within a campaign to get at least one million ol...
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