State Pension age changes


16 June, 2009

The State Pension age is changing. Currently it is 65 for men and 60 for women.

For women it will rise gradually from age 60 to 65 from 2010 to 2020.

The State Pension Age for both men and women is then set to increase from 65 to 68 between 2024 and 2046.

A recent survey showed that whilst a majority of working people would like to "retire early" that an amazing 40% of those surveyed had no retirement savings whatsoever.

People regularly have their cars checked out but most people don't review their finances often enough.

One example of the need for Independent Advice is the Mortgage market.

There is a big gap between how much of the base rate cuts that have been passed onto borrowers. There is now a three percentage point difference between the lowest and highest Standard Variable Rate Product available. On a £150000 home loan this would equate to a difference of over £250 a month.

For further information please contact Peter Toner on 01772 220022 or contact Peter Toner by email.


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