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Lowering the retirement age - why doesn't it work in practice?


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[quote user="andyh4"]That would be true in most countries except the UK where the 30 years' contribution rule means that most 60 year olds could do it and get a full pension. [/quote]Assuming of course that they can privately fund the intervening years to the state retirement of 65, I would suggest that most can't [;-)]

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That of course is absolutely right but I was assuming that for such a scheme to work inthe UK there would need to be some form of incentment for the retiree - as in France - with a reduced pension until full pension age.  Without that there is no reason why anything would change from the status quo.
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