Former Labour pensions minister, Malcolm Wicks has revealed some shocking new statistics which prove that increasing the working age universally is grossly unfair on some demographics.
The MP revealed that nearly 1 in 5 of the poorest people in Britain never make it to the current working age, so increasing it will only see more of the poorest people die before ever being able to enjoy their retirement.
19% of the poorest male people in Britain died before their 65th birthdays, compared to just 7% of those in the highest social circles highlighting the clear difference between wealth classes.
Samir El-Alami of pension calculator.org said, “It’s a frustrating situation and ideally we would just have one system for all but it’s not quite as simple as that. Here we can see that by increasing the working age to 70 and beyond a large percentage of men in the poorest circles will effectively work themselves to death, never enjoying the benefits of a retirement they so deserve.”
“Whilst I’m not suggesting the government only increases the working age for those who are more well off, I think they need to take a closer look at the statistics and rethink any plans they may have regarding extending the working age.”