UK. State Pension rise: insurance loophole could put workers at risk
The government’s announcement that it is speeding up the increase in the State Pension age might be causing problems for people with income protection.
Last week, work and pensions secretary David Gauke announced that the increase in the State Pension age – from 67 to 68 – is being brought forward and will now be phased in between 2037 and 2039.
This change could leave people with income protection insurance facing a one-year gap in cover between when their benefits end and when they can start claiming their State Pension.
Aviva has warned that a change in the law may be required before some income protection schemes recognise the increase in the State Pension age. That law change could take several years.
Full Content: BT
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