Great Britain : bill for pensions overhaul is finally ready

Publication

30 November 2006 à 14h22

Updated on 1 December 2006 à 16h10

Reading time

2 minutes

Publication: 30 November 2006 à 14h22, Updated on 1 December 2006 à 16h10

Reading time: 2 minutes

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The government published yesterday the draft law on retirement pensions, which was under preparation for three years. The text contains few novelties compared to the proposals of the Turner Commission. (Ref. 061210)
Publication

30 November 2006 à 14h22

Updated on 1 December 2006 à 16h10

Reading time

2 minutes

Publication: 30 November 2006 à 14h22, Updated on 1 December 2006 à 16h10

Reading time: 2 minutes

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The main measure is the gradual raise of the retirement age to 68 years old by 2046. Currently, the retirement age for men is 65 and for women 60. This will be harmonized in 2020. The first people to retire at 68 will be those born in 1978. But this rule is only for private sector workers: civil servants remain allowed to retire at 60. The draft law also reinstates the link between the public sector retirement pension and the average salary increase, which had been removed by Margaret Thatcher.

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