Reeves warns Pensions Bill must be finished before summer

Author: Rachel Dalton
IFAonline | 06 Jun 2011 | 15:00

Categories: Pensions - Retail

Topics: pension reform| state pension| Womens Pensions| Labour| House of Commons

reeves-rachel

The shadow pensions minister Rachel Reeves has urged the government to move forward with the Pensions Bill before the summer recess.

Reeves, Labour MP for Leeds West, said the Pensions Bill has been subject to a "massive delay".

The bill, which contains a controversial clause increasing the women's state pension age (SPA) to 66 by 2020, had its first Commons reading five weeks ago on 27 April.

"It must be finished before the summer recess or we will have to start again in the autumn," Reeves added.

A date for the second reading has yet to be set. Reeves claimed there was an opportunity for the reading to take place tomorrow, but another bill reading has been scheduled instead.

"There has been a massive delay between the readings, which is normally a period of two weeks," Reeves said.

"We expected the second reading in May, and we suspect the government has heard the anger of women affected by the changes and is looking for a fairer way, although it is hard to tell."

Under current proposals, 300 000 women born in 1953 and 1954 will have to wait a further 18 months for their pensions.

An early day motion (EDM) opposing the change has been gathering more signatures.

There are now 162 MPs signed up to the EDM. This includes 17 Liberal Democrats, representing a third of the Parliamentary party.

Reeves has hinted before at a Liberal Democrat rebellion over the change.

However, Jennie Kreser, pensions partner at law firm Silverman Sherliker, has warned the Treasury will quash any attempts by the Department for Work and Pensions (DWP) to make costly changes to the bill.

Parliament rises for the summer recess on 27 July and returns on 6 September this year.

DWP spokesperson said a date for the second reading has not been set due to the busy Commons timetable, but added the bill is still on track and a reading is expected very soon.

 

 

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