Britain takes aim at soaring state pension bill

LONDON (Reuters) - Britons will have to work longer to earn a full state pension but will benefit from a higher flat rate when they retire, the government said on Monday as it sought to put a lid on the soaring cost of its universal basic pension provision. The government will also formally consider at regular intervals whether to raise its state pension age to allow for rising life expectancy. The measures, outlined to parliament, aim to curb expenditure on basic state pensions, which the government says it set to hit 8.5 percent of economic output by 2060, from 6.9 percent now. ...