Rishi Sunak has called for the state pension age to be lowered to 60 in order to “open up jobs for young people.”
Due to the effects of the pandemic on the employment market, the state pension age should be lowered to 60 with “immediate effect,” according to a petition.
Britons will pay attention to their State Pension age because it is at this moment that they will be allowed to access their money. The amount a person can get is mainly determined by their National Insurance contributions, however it can reach £179.60 per week in extreme cases. The state pension age is currently fixed at 66, but a new petition on the official Parliament website has requested that this be reconsidered.
“Move the state pension age back to 60 for both men and women,” the petition reads.
It calls for action on the age at which people become eligible for benefits, especially in light of the pandemic.
The petition claims that action should be taken as soon as possible.
Indeed, it focuses on women who have been affected by the increase in their state pension age as a result of legal changes in the Pensions Acts of 1995 and 2011.
“Young people are struggling to find work and losing their jobs as a result of the pandemic,” the petition says.
“Why not enable older people to retire early, freeing up jobs for the younger generation?”
“There would be a cost, but surely it would be considerably more beneficial than paying Universal Credit?
“Not to mention the possibility of redressing the balance in favor of young people and assisting in the restoration of their future.”
The pandemic’s effects have been widespread, and with assistance measures coming to an end, many people are worried about a job shortage.
When the furlough program expires in September, it is predicted that many more people would be competing for jobs.
As a result, the petition proposes an earlier retirement as a possible solution, in order to remove elderly Britons from the labor market and allow young people to take their place.
The petition currently has just over 1,000 signatures and will need at least 10,000 to trigger an official Government response.
The age at which persons are eligible for a state pension has long been a point of contention.
Previously, the state pension age for women was 60 and for men it was 65.
However, the state pension age was raised to 65 in order to achieve gender equity.
As a result, the state pension has been gradually increased, bringing the eligibility age closer to retirement.
The state is now 66 years old. “Brinkwire News in Condensed Form.”