Thursday, 13 October 2011

Government's about turn on women's pensions

An interesting about turn by the government over women's pensions.

Its plans to raise the state pension age to 66 in 2020 will now be delayed by six months to address concerns thousands of women will be unfairly disadvantaged.

The Pensions Bill proposed to equalise men's and women's state pension age at 65 in November 2018, and then raise it to 66 by April 2020. This was 6 years earlier than planned, which Age UK thought didn't leave those affected with enough time to plan for their financial futures.

Those hit hardest were 330,000 women born between December 1953 and October 1954, who would have had to wait between 18 months and two years longer to claim their state pensions.

Now after much campaigning he Government has announced it's going to amend the Bill to cap the extra time anyone will have to wait for their state pension to 18 months, delaying the second rise in the pension age for men and women from April to October 2020.

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