Business Maverick: UK pushed 100,000 people into poverty by lifting pension age

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Britain raised its state pension age to 66 from 65 between late 2018 and the end of 2020. That meant about 700,000 people on the brink of receiving benefits missed out on income of about £142 ($174) a week.

The UK’s decision to raise the age at which people can claim pension benefits pushed almost 100,000 more people into poverty – one-in-seven of those affected by the change.

It showed that people with lower levels of education and living in rented accommodation were most likely to suffer the biggest living standards decline and adds to broader concerns about a cost-of-living squeeze on household incomes.

 

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