Is it fair to keep raising the state pension age?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 21 July 2017

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

The state pension age will rise once more, it emerged this week - with those in their 40s set to lose out. But is it fair to continue to raise the state pension age in line with life expectancy, especially for those who cannot work through their 60s?

Georgie Frost, Simon Lambert and Rachel Rickard Straus discuss how we handle the thorny and expensive issue of the state pensions.

Also on this week’s show:

The end of sneaky card charges

Tips to avoid the car hire company rip-offs

Attempts to solve the work productivity puzzle

And it’s been a big week for news about gender equality – from the first female Doctor Who, to the FTSE’s most in-demand boss Carolyn McCall taking the top job at ITV, and then those BBC pay revelations.

Is there still a lot more work to be done to promote women in business?
Should stories about women getting top jobs even mention that they are women or mothers?

The last ten minutes looks at how we can get more women to the top in business.

Enjoy.

Transcript

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0:00.0	Welcome to This Is Money Show, your weekly roundup of the top personal finance, consumer and business stories that editor Simon Lambert and his team have been covering on their award-winning website.
0:12.1	I'm your host, Georgie Frost. Here alongside Simon Nye is personal finance editor Rachel Rickard Strauss.
0:17.6	And on the agenda today, we pack our bags and go on holiday, though perhaps not to Spain or Portugal soon.
0:23.6	As the travel industry hits back over a big rising claims against firms, could we be banned from our favourite destinations?
0:30.6	But what if you really do get food poisoning one away?
0:34.6	We have some good and bad news when it comes to rip off charges,
0:38.6	uninsured holiday makers being taken for a ride by unscrupulous car hire companies,
0:43.2	but no more pesky credit or debit card fees when we book up. Also today, can the Bank of England
0:48.5	and borrowers breathe a collective sigh of relief after a surprise drop in inflation?
0:54.1	Why are we so unproductive compared to our European counterparts?
0:58.0	And as ITV gets a new in-demand boss, Doctor Who gets a new doctor, we ask, does it matter what gender they are?
1:05.0	All that and plenty more coming up, but don't forget you can stay up to date.
1:08.0	With all the latest breaking money news, just go to this ismoney.co.uk or download the app. But first, millions of us will have to work for
1:16.9	another year as the state pension is set to go up to 68 by 2039, seven years earlier than planned.
1:24.1	In 1948, when the modern state pension was introduced, a 65-year-old could expect to live for a further 13 and a half years.
1:32.3	By 2007, when further legislation was introduced to increase the state pension age, this had risen to around 21 years.
1:40.3	And in 2037, it is expected to be nearly 25 years.
1:45.0	As the Quiglin review makes clear, the increase in life expectancy are to be accelerated.
1:51.0	And I want to make clear that even under the timetable for the rise that I'm announcing today,
1:56.0	future pensioners can still expect to spend, on average average more than 22 years in receipt of the
2:01.9	state pension. The approach I am setting out today is the responsible and fair course of action.
2:08.5	Failing to act now in light of compelling evidence of demographic pressures would be
	...

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