Monday, July 25, 2005

OAP at 67

The latest solution to the pension crisis is to raise the state retirement age for private sector workers to 67. Public sector workers will strike if their retirement age is raised beyond 60.

The only 'real' solution to the current pensions crisis is to identify means of reducing reliance on a state pension funded on a pay-as-you-go basis rather than encourage it. However, this is at odds with the official solution, "One way to build a consensus on increasing the state pension age is to link it with an increase in the basic state pension" - Peter Robinson, Institute for Public Policy Research.

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