Sunak leaves the decision on raising the retirement age for after the 2024 elections

Prime Minister Rishi Sunak You don’t want to suffer from the same headaches that President Emmanuel Macron has with the protests sparked by his pension reform. For this reason, the British government has decided to leave until after the general election, scheduled for the end of 2024, its decision to raise the retirement age to 68.

This was announced by the Minister of Labor and Pension System, Mel Stride, who assured the House of Commons this Thursday that it is not time for any changes in the system. According to current plans, the retirement age should go from Age 66 to 67 between 2026 and 2028and 68 between 2044 and 2046which will affect people born after April 1977.

A review by some experts in 2017 suggested that the Government move this last leg forward until the end of the next decade, which would force millions of people born in the early 1970s to work an extra year before retiring, saving the Treasury billions. However, recent studies have revealed this life expectancy in the country was reduced by two years in the last five years, a factor that reduces the pressure on the pension system.

The local press cited two reasons to explain Sunak’s government’s decision to park the matter. On the one hand, the concern that the decision will further reduce their slim chances of winning the next election. And on the other hand, the fear that a wave of protests like the one shaking France will happen in the United Kingdom. There is cause for concern, after the country’s worst strikes in four decades.

The average amount of state pension is £9,627.80 per annum (10,937 euros) . In April, it will increase by 10.1%, which will benefit 12.5 million people. The low amount forces Britons to have a private plan to spend their retirement well.