A debate recently took place on whether state UK state pension payments should increase to £380 per week and whether the state pension age should be lowered to 60.
The debate followed an online petition which gained substantial traction on the official website for UK Parliament website. The petition obtained an excess of 100,000 signatures, which is the number of signatories required for a matter to be worthy of a debate. The online petition asserted that the present UK state pension is too low and requested reconsideration regarding the matter.
Those concerned that a state pension will not give them adequate income when they cease working often consult experts in retirement planning in Shropshire, Cheshire, and other counties. Wealth managers help their clients to establish private pension that invest their money, effectively allowing them to enjoy a generous income in retirement and wide range of tax benefits including IHT relief.
Signatories adding their name to the online petition backed the idea of an increase to the state pension with the payment rising to £380 per week, or £19,760 per year, to assist older people with a financial boost.
The online petition also stated that this should be extended to include all people of 60 years of age or older. If it became law, this would mean that the present state pension age would be lowered by six years. According to the petition’s author, such a move could raise thousands of people out of poverty and provide the UK’s elderly folk with more spending power, helping to grow the British economy.
