LETTER: ‘Perhaps the higher rate state pension is to appease those waiting longer to retire’
I can certainly appreciate Mr Woollard’s resentment at the prospect of differing tiers of basic state pension.
I am sure he in turn appreciates that people now approaching the increased pension age are paying in for longer, unable to retire and claim a state pension until a greater age.
Personally I am not eligible now for state pension until I am 66 years old, not 60 as I had been anticipating.
This means that people like myself will have lost out on approximately £47,000 each in pension payments over the extra six years they are forced to wait, and the eligible age for state pension will continue to increase.
Perhaps the higher rate state pension is intended to appease those who are having to wait longer to receive it.