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Decision to change UK state pension age is criticised

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Announcement: David Gauke

Announcement: David Gauke

AFP/Getty Images

Announcement: David Gauke

The Government has been accused of "picking the pockets" of millions of people in their forties after announcing anyone born between 1970 and 1978 will have to wait for an extra year for their state pension.

The state pension age for men and women will rise from 67 to 68 between 2037 and 2039, seven years earlier than previously planned, in a move designed to save £74bn by 2045/46.

Work and Pensions Secretary David Gauke told the House of Commons increases in life expectancy meant those affected could still expect to receive more over their lifetimes than earlier generations.

Age UK charity director Caroline Abrahams said: "In bringing forward a rise in state pension age, the Government is picking the pockets of everyone in their late forties and younger, despite there being no objective case in Age UK's view to support it at this point in time.

"It is astonishing that this is being announced the day after new authoritative research suggested that the long-term improvement in life expectancy is stalling."

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