Retirement age in Britain may be stretched further as David Norgrove, chairman of the Pensions Regulator believes that the entitlement age for the basic state pension should be raised to 70.
David Norgrove said, "Given recent legislation is increasing the retirement age progressively to 68, I think it will end up higher than that."
Lord Turner's report has already recommended that pensionable age for both sexes should reach 68 by 2044.
The present pensionable age for men is 65 and for women 60.
However, Angela Eagle, Pensions Minister offsets David Norgrove's statement by saying that the government had no intention to lift retirement age beyond 68.
The government has been working on its private pension reforms and from 2012 everyone will be enrolled in this low cost pension scheme, which they can opt out of. Employers will also contribute in the scheme.
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