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Government to delay raising state pension age

The UK government is set to announce on Thursday that it will not bring forward the date the state pension age will rise to 68.

The rise was originally supposed to take place in 2044, but a 2017 government review suggested this could be brought forward to 2037. However, a decline in the projected average UK life expectancy in the past few years has seemingly caused ministers to abandon this plan.  

Last week, a Department for Works and Pensions (DWP) said: “The government is required by law to regularly review the state pension age and the next review will be published by 7 May.”

The pension age is still due to increase to 67 in 2028.

If you run a small or medium-sized business in Greater Manchester and want to understand how changes to the state pension age might impact your operations and revenues, GC Business Growth Hub’s #HereForBusiness package provides practical guidance and expert advice on a range of topics to help you manage the increasing cost of doing business.

If you have any questions, get in touch now.

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#HereForBusiness is funded by the UK government through the UK Shared Prosperity Fund.

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