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Health care and pensions for an ageing population will swallow up the budget unless costs are curbed and the retirement age is raised.
With more young people than ever already in post-16 education, there is likely to be a high rate of these people being paid to have education they would have had anyway – and when the school-leaving age is raised to 18, the allowance will become completely obsolete.
Regardless of how high the age is raised, we need to start doing this soon.
This will be reviewed - but will not be part of the first wave of implementation in 2013, when the leaving age is raised to 17.
The period of contributions is extended to the last 25 years (instead of 15 years) and the statutory retirement age is raised from 65 to 67 by 2027 (although workers who have contributed for at least 38.5 years will be entitled to a full pension at age 65).
Therefore, when the full retirement age is raised, people push back when they take their benefits.
Similar(51)
The minimum marriage age was raised from sixteen to eighteen, and female circumcision was outlawed.
I was an NQT when the school leaving age was raised from 15 to 16.
Benefits were slashed, benefits were taxed and the retirement age was raised.
After the legal drinking age was raised to 21, "drunk driving deaths plummeted," he said.
That presumption changed, however, after the legal drinking age was raised to 21 in 1987.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com