The proposal to push the state pension age beyond 68 feels like a betrayal. It undermines the deal we’ve earned through decades of work. As RMT General Secretary Eddie Dempsey warns, “Raising the pension age even further isn’t just cruel and unnecessary, it’s a slap in the face to the very people who keep this country running.” Pensions are deferred wages—every National Insurance pound was meant to fund our retirement, not vanish into general taxation.
Remember, National Insurance began in 1946 as a separate, ring-fenced pot to guarantee our pensions. Over time, governments folded NI into general taxation, breaking the direct link between what we paid and what we receive. That erosion of trust leaves us exposed every time ministers launch a “review” of retirement age.
Private pensions were supposed to fill the gap, yet only 44% of working-age adults hold one. Nearly 30% of people over 55 rely solely on the state pension. The average private pot is around £35,000. This amount is hardly enough to generate an income to live on. When savings or private pension income fall short, the state pension is all that stands between you and hardship.
Our bodies don’t keep pace with policy deadlines. By age 75, more than 70% of us have at least one chronic condition. By 85, that number climbs to nearly 90%. Almost half struggle with everyday tasks. “Asking people to labour an extra six, even eight years effectively steals the dignity of retirement,” says Pat Harrington of Solidarity union. Forcing us to wait until bones ache and energy fades robs every dream of travel, family time, or simply resting.
Worse still is the uncertainty. With regular reviews, whispers of ages 69, 70 or even 74, how can anyone plan? You don’t know when your last pay cheque arrives. So, you delay home-buying. You hesitate on pension contributions. You hoard cash instead of investing. That paralysis can cost you a lifetime of compound growth—and the financial freedom you thought you were building.
We’ve earned the right to step off the treadmill when our bodies demand it. Policymakers should restore NI’s ring-fencing. They should tax wealth fairly. Loopholes need to be closed. Policymakers must secure the retirement we’ve already paid for. Retirement isn’t a privilege to be delayed at will—it’s the promise of rest after a lifetime of work.