Proposed pension age plans 'could be a shock for over 50s'

Age Concern and Help the Aged has stated that new Conservative plans to increase the state pension age could cause problems for over 50s planning to retire.

A charity for over 50s has expressed concern over the effects that proposed changes to the state pension age could have on financial planning of many older workers.

Age Concern and Help the Aged has stated that new Conservative plans to fast-track an increase of the state pension age to 66 could cause problems for women who had been planning to stop working at 60.

The body also stated that the proposals also failed to address the problems caused by the current default retirement age, which allows able 65-year-olds to be forced out of work.

Andrew Harrop, head of policy for the body, therefore called for a wider strategy to be devised and implemented in order to allow over 50s more freedom over their retirement options.

He said: "People should be encouraged, not forced to work longer."

This comes after Mr Harrop last week demanded an end to compulsory retirement, which he described as an "outdated" concept.

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