Hopes rise for early payments
Women hope for reprieve in pensions claim
Many women have complained that the age at which they can claim their state pension was bumped up without enough notice for them to prepare.
This has forced many to delay their retirement. Campaigners say the government did not adequately publicise a series of changes to the SPA.
The 1995 Pensions Act lifted retirement age from 60 to 65 to bring it into line with men. The Pensions Act 2007 raised the SPA for all to 68 in a phased introduction between 2024 and 2046.
The Pensions Act of 2011 changed the SPA for men and women to 66 by 2020, but this was particularly unfavourable to women born in the mid 1950s who were due to retire in the coming years.
Women Against State Pension Inequality (Waspi) have demanded ‘fair transitional arrangements’ for those affected.
It is now gaining traction in parliament and in January the Work and Pensions Committee attacked the government over its failure to provide clarity to women about the changes.
The committee is now expected to recommend that some women are able to take early receipt of their state pension. It is thought a statement could be issued ahead of next week’s Budget.
The Chancellor has already had to forfeit hoped-for revenue from his planned pension reforms, and to soften the blow of this latest amendment adding to the bill the committee will argue that it will be “fiscally neutral”.
Correspondence on this issue has re-opened