In the 2011 Autumn statement by the Chancellor George Osborne he announced that retirement will be going up to 67. Whilst some may have thought this was bad and it was wrong I think most thought this was OK, as it was only 2 extra years plus people are living longer and also people like to go to work.
However, it is widely expected that the retirement age will go up again today in the Autumn Statement by the Chancellor George Osborne. It is again expect to raised to the age of 70 years of age.
My question would be are we now expected to accepted the retirement age to raise ever 2 years under this Chancellor? If so why are NI not reducing for people. I say this last part because the pension will be the same , if not less and if you are working 5 yrs longer you will only get the same, so in reality people have longer to pay in which should mean lower NI contributions.