UK state pension age to rise to 66 by 2020

LONDON (BestGrowthStock) – Britain’s state pension age for men and women will rise to 66 by 2020, finance minister George Osborne said on Wednesday.

“Raising the state pension age is what many countries are now doing, and will by the end of the next parliament save over 5 billion pounds ($7.86 billion) in a year,” he told parliament.

“(It) will be used to provide a more generous basic state pension as we manage demographic pressures.”

UK state pension age to rise to 66 by 2020