Monday, 30 November 2009

From April 6 2010, minimum retirement age will jump by 5 years

Reminder: From April 6 2010, minimum retirement age will jump by 5 years, from age 50 to 55. The increase will mean that people who were born between April 7 1955 and April 5 1960 (estimated to be 4 million people) could be forced to delay drawing their pension until later than they would like. It makes sense for those who are caught in the relevant age bracket to consider whether drawing on their pension before April 6 2010 or not, especially for those who may have a specific financial liability between the age of 50-55, such as a mortgage repayment or a child’s university costs.

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