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The UK state pension is currently 66 for both men and women. However, a petition on the Parliament’s official website calling for it to be reduced collected 5,469 signatures.
Created by Mark Grimes, he urges the government to “lower the legal retirement age to 63 for all”.
The petition states: âReduce the retirement age to 63. Some jobs may not be available the older we get, eg masons, truck drivers.
âOf course there will always be an exception, some older people being more capable than others.
âThe government should do more to create jobs for young people by allowing older people to retire if they wish at 63 so these jobs can be filled by younger people.
Petition calls for legal retirement age to be reduced to 63
“The government should do more to create jobs for young people”
âIt would also protect older people from needing to work if that job is too demanding.
“It would also allow grandparents to support their children with child care when they are working.”
If the petition reaches 10,000 signatures, the government is required to respond.
If it collects 100,000 signatures, it will be considered for debate in Parliament.
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Reducing the retirement age to 63 would put a dent in UK public finances
The deadline for signing the petition is December 7, 2021, after which it will expire.
It follows reports that the government is considering increasing national insurance to pay for social care.
This would translate into higher taxes for 25 million people, in violation of the Conservative Party’s 2019 manifesto.
According to the Daily Telegraph, Downing Street is considering a 1% increase in national insurance, while some members of the Treasury are pushing to 1.25%.
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Conservative 2019 election manifesto ruled out increase in national insurance
The Conservatives’ December 2019 election manifesto read: âWe promise not to increase income tax, national insurance or VAT rates.
âWe not only want to freeze taxes, but also reduce them. “
According to the proposals, the costs of individual social care could be capped, preventing many people from having to sell their homes to finance aid.
The extra money would also be used to clear the NHS backlog, which developed during the coronavirus crisis.
Upcoming changes to the state pension in 2022
Currently 5.5 million people are awaiting hospital treatment from the NHS, but there are fears that this may rise to 13 million.
However, the plan has already been criticized by business leaders, who warn it could cost jobs.
Craig Beaumont, of the Federation of Small Businesses, warned that the move could cause economic damage.
The state pension is currently 66 for both men and women
Speaking to the Daily Telegraph, he said: “Raising the employment tax for employees and employers would make it more costly for businesses to create and maintain jobs.”
Kitty Ussher, of the Institute of Directors, warned that businesses “will find it difficult to understand why the government would want to increase employer payroll taxes to pay for the necessary investment.”
The UK economy shrank 9.9% in 2020 as the coronavirus struck, the worst figure in over 300 years.