Categories: Pensions - Retail
Topics: state pension| pension reform| retirement age| coalition government
Iain Duncan Smith this evening said there would be no u-turn on controversial proposals to raise the women’s state pension age (SPA) to 66 by 2020.
However, the secretary of state for work and pensions, hinted the coalition would be open to later amendments which would help soften the blow for women particularly affected.
In the second reading of the Pensions Bill today, Duncan Smith said there would be no change to the current schedule, which equalises men and women's SPAs at 65 in 2018 and increases them together to 66 in 2020.
When asked repeatedly if the government would be open to amendments to assist women aversely affected by the Bill, Duncan Smith would only answer that the coalition has no plans to alter the schedule for reform today, but would "look at transitional arrangements" later.
In response to questioning from shadow pensions minister Rachel Reeves, in which she asked if the coalition would consider a compromise of raising the state pension more slowly, but to a higher age eventually, Duncan Smith said:
"If the honourable lady wants to amend the Bill in that way at the committee stage, so be it."
Opposition to the Bill, which will lead to some women born in 1954 having to wait for up to two more years to collect their pensions, had been growing since the Bill's first reading nine weeks ago.
This morning, the Treasury and the Department for Work and Pensions (DWP) denied pressure from the unions and the opposition would force the government to alter the bill.
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confused?
Women have wanted to be treated equally for a long time but unfortunately a lot of older women haven't been and therefore haven't had the same opportunities. It was the norm to not get the job or be paid less because you were a woman. How were they ever going to build up a decent pension pot on a woman's wage? It is right that things should be equal including the retirement ages but only for younger women who have started on a more equal footing.
Posted by: Belinda
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confused
I am confused by this...women are unhappy about being treated equally??
Posted by: James