UK Gov't Vows To Push Ahead With Hike In Pension Age

Law360, London (July 20, 2021, 2:30 PM BST) -- The government said on Tuesday that it will push ahead with plans to raise the minimum age from which Britons can have access to their pensions, despite concerns in the sector that the proposed change will be "hideously complex" for savers.

The Department for Work and Pensions said it wants to raise the so-called normal minimum pension age from 55 to 57 by 2028 to encourage people to work longer and save more for their retirement.

The normal minimum pension age was introduced in 2015 under pension freedom rules, which allowed people access to their long-term savings as a lump-sum withdrawal...

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