Labour in last ditch attempt to delay women’s SPA rise

Labour has made a final attempt to change the government’s reforms of women’s state pensions.

In her last act as shadow pensions minister, Reeves tabled an amendment pushing back the increase in women's SPA to 65 by 2020 and then 66 between 2020 and 2022.

The bill, which is due for its third reading on 18 October, increases the state pension age (SPA) for both sexes to 66 by 2020, meaning women face a much sharper age increase than men.

Around half a million women in their fifties will have to wait up to two years longer for their pensions than they would under the Pensions Act 1995.

However, Tom McPhail, head of pensions research at Hargreaves Lansdown, said: "It would seem unlikely pensions minister Steve Webb will support this amendment, as it is contrary to the government's agenda.

"An alternative would be for the minister to adjust the age at which pension credit becomes payable, temporarily keeping it in line with the lower pension ages and ensuring women suffering significant disadvantages would receive support."

Webb and work and pensions secretary Iain Duncan Smith previously promised to provide transitional support for women worst affected by the SPA rise.

Reeves, who was promoted to shadow chief secretary to the Treasury in Labour's reshuffle last week, said: "We will be keeping a close eye on those transitional arrangements."

Reeves' replacement, Gregg McClymont, was announced this afternoon.