UK state pension age rises to 66 and will eventually reach 68 or even 70...

UK state pension age rises to 66 and will eventually
reach 68 or even 70

The state pension ‘Ponzi’ scheme becomes harder to
fund as people live longer and the demographic ratio of working to retired
people changes. There is no fund and the scheme relies on new entrants to pay
out people in retirement.

The age at which the majority of UK retirees qualify for the
state pension has now officially changed to 66 following rises in the
qualifying age in the last few years.

For men and women born between 6 October, 1954, and 5
April, 1960, they will miss out on at least one year of state pension
income and will only start receiving their pension – worth up to £175.20 per
week - when they reach age 66.

It gets worse for those born later. The government will
gradually phase in an increase in the state pension age to 67, and 68.
Eventually, we will all have to work until 70 to get a state pension.

Use the
government's calculator to find out your state pension age

Rishi Sunak, the UK chancellor, said he will maintain the
"triple lock" pledge under a conservative government.

This means the state pension will increase each year in line
with the highest of average earnings, prices (as measured by inflation) or
2.5%.

How will you be able to afford to retire?

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Millions of people face a bleak future post-Coronavirus
lockdown, as businesses disappear and the job furlough scheme eventually comes
to an end. However, life doesn’t have to end because of lockdown! You can join
thousands of ordinary people who have increased their income and added
streams of new income during this period.

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased,
the economic model has subtly changed forever. How will you adapt to this new
way of working and running a business, what obstacles and opportunities lies
ahead? Will you be a participant or spectator in this revolution?

By Charles Kelly, Wealth Mentor, Property Investor, Author
of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical
steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3
R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it
out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on wealth mentoring and
coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net
or send me a message through Facebook or my Money Tips Daily community. See
more articles at www.moneytipsdaily.com

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