Trade Body Warns Of 'Grave Concerns' Over Pension Age Hike

By Martin Croucher (October 12, 2021, 12:25 PM BST) -- An insurance trade body has said it has "grave concerns" over the government's plan to move to a new minimum pension age, and has called for a simpler approach.

The Association of British Insurers said in a letter made public on Monday that a phased approach to the rise in the age from which Britons can have access to their retirement savings could create widespread confusion and distort the market.

The government wants to raise the threshold from 55 to 57, in an attempt to encourage more people to save longer for retirement.

But, rather than applying the change across the...

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