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This site not work anymore .I have a new site and you can go there visit me. I dont go put more post here anymore ... If you like this blog go there .. I will be there for you ... Olá meus queridos amigos ... agora tenho um novo blog Este site nao funcionará mais , tive alguns problemas. Agora tenho um novo endereco de blog. Nao irei mais colocar post neste blog .. Todas as atualizacoes e novidades estarao no outro endereco .. Acessem... estarei lá pra vcssss Se vcs gostaram desse blog irao amar o outro .. mais atualizado e lindo ... Vamos láaaa .... visitem-me lá .. Beijinhos Lili

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quinta-feira, 25 de fevereiro de 2010

State pension age should be 70, PwC says

The state pension age (SPA) should be raised to 70 by 2046 to reduce the deficit and offset ageing-related costs, according to a PricewaterhouseCoopers study.

By Angela Monaghan, Economics Reporter
Published: 6:44AM GMT 25 Feb 2010

Comments 23 | Comment on this article
State pension age should be 70, PwC says Photo: PHOTOLIBRARY

That would go further than current government plans, which would see the SPA increase to 68 for all by 2046. Today the SPA for men in Britain is 65, and 60 for women, although the latter is set to rise to 65.

PwC calculated that by extending the SPA to 70 over that time frame, about £9bn a year in today's money could be shaved off the deficit, or 0.6pc of gross domestic product in 2046.

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Such a move to increase the SPA would be equivalent to avoiding a tax rise at the time of just under 2p on the basic rate of income tax, or just under two percentage points on the standard rate of VAT, PwC said.

Government coffers would benefit from a reduction in state spending, and rising tax receipts as people opted to work longer.

John Hawksworth, head of macroeconomics at PwC, said: "The sweet spot enjoyed by the economy during the past 30 years as the post-war baby boomers moved through the workforce has the potential to turn sour as longer periods of retirement leave a lasting and expensive burden on smaller future generations of workers. Either taxes will have to rise or other policies need to adjust to deal with the higher costs of state pensions, health and long-term care, as well as the large debt hangover from the global financial crisis.

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