Pensions - Articles - Some 35 year olds will work 8 years longer than parents

 Mark Stopard, Head of Product Development at Partnership, comments on the Autumn Statement:

 “Today’s revisions around the state retirement age suggest that someone who is 35 now could conceivably need to work for eight years longer than one of their parents before they receive a state pension. This seems a heavy burden for a generation that arguably is finding it tougher to buy their first home, secure a career and is more indebted than many of the baby-boomers.

 “While some people will be able to work for longer, this also means that people who do have lifestyle or medical conditions may not physically be able to continue in employment until they receive their state pension. This suggests that going forward private provision will continue to grow in importance as people work to build retirement finances which are tailored to their own individual needs.”