Calling for Early Access to Pensions

Calling for Early Access to Pensions

Your Money reports “A ‘perfect storm’ is on the horizon for older workers in their 50s and 60s, as the coronavirus pandemic amid a backdrop of caring responsibilities, disability and long-term joblessness spells an uncertain future for the next generation of pensioners, according to charity Age UK.

More than 340,000 people aged 50-64 are now unemployed and with the short supply of vacancies, the pandemic could spell the end of their working lives.

With the state pension age currently at 66 and due to rise to 67, Age UK is calling for urgent government action to safeguard the financial futures of unemployed older workers who are facing a long and difficult wait for their state pension.

It is calling for early access to the state pension for those within three years of their state pension age who are unlikely to work again.”  Read the full article here  

 

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