At his traditional ‘autumn statement’ in Parliament, Chancellor of the Exchequer George Osborne announced, on Thursday, an increase in retirement age to receive State pension up to 69 at the end of the 2040s as well as an exemption of employers’ contributions for employees under the age of 21 to combat youth unemployment. (Ref. 130777)
British people will have to work more, announced Chancellor Osborne at the House of Commons. Currently set to 65, statutory retirement age was already supposed to be raised to 66 in 2020 and then gradually to 68 in 2046, in keeping with a 2011 reform. However, new measures announced on Thursday should take retirement age to 68 in the mid-2030s to reach 69 by the end of the 2040s. The detailed schedule will be announced later, depending on the evolution of life expectancy. “We also have to g
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