When people talk about raising the state pension age, the argument is usually that it will never happen because pensioners are more reliable voters.
But actually aren’t today’s pensioners the least likely to be affected? These things take years to implement. Any major change to pension age or entitlement is usually phased, so the people who’ll get hit hardest are the ones who are in their 40s/50s now, not those already collecting it.
If the current pension is unsustainable, it’s people currently under 50 who’ll feel the pain when the government turns around and says “sorry, there’s just not enough left”.
Part of me thinks I’d rather they were upfront now, rather than kick it down the road again. If there are big changes coming, I’d rather have 15+ years to plan around it not be blindsided when I’m coming up to retirement.
I’m not factoring the state pension into my own retirement planning at all. I just don’t believe it’ll be what we’re told it will be by the time I’m old enough to claim anything.
Anyone else thinking this way?