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Labour plans early state pension for Waspi women

Labour would let women hit worst by recent state pension age increases retire two years earlier than currently planned, at age 64 rather than 66.

 
Labour plans early state pension for Waspi women

Labour would let women hit worst by recent state pension age increases retire two years earlier than currently planned, at age 64 rather than 66.

Labour shadow work and pensions secretary Debbie Abrahams is set to announce plans for women born in the 1950s to access a reduced state pension at the age of 64.  

The Women Against State Pension Inequality (Waspi) campaign has been pushing the government hard over the last two years for transitional measures for those who had seen their state pension age rise most rapidly. 

According to reports she will say: ‘This will ensure that those who have suffered the consequences of this government's chaotic mismanagement of the state pension age have the security they need.’ Adding: ‘We will continue to work with these women to get justice.’

The proposal is described as ‘cost neutral in the long run’ and the party says the change should be made ‘immediately’.

However, Royal London head of policy Steve Webb said it would take so long to make this policy law that many of the women affected would already have retired.

He said: ‘Writing new primary legislation, getting it through parliament, and implementing the change on the ground is likely to take at least two years.  

‘If this legislation completed its passage through parliament during the 2018/19 session, it would take at least another year to change government computer systems and to communicate effectively to all those who might be affected.   By the time the new law could be implemented, most of the women who had the shortest notice of state pension age changes would already be drawing a state pension.’

Webb has in the past admitted that the state pension age might have been raised too rapidly.for some women while he was Liberal Democrat pensions minister in the coalition government.

2 comments so far. Why not have your say?

PaulSh

Sep 25, 2017 at 13:19

I can't see why anyone shouldn't be allowed to take their State Pension early at a reduced rate if they want to. You can already take it later at an increased rate if you want, so what's the big deal with earlier as long as it's done on a cost-neutral basis?

OK, there are bound to be changes needed to IT systems, but the basic infrastructure for changing the pension amount according to your chosen date for taking it is there already.

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Law Man

Sep 25, 2017 at 18:48

PaulSh: if a person can take an earlier £p pension at an earlier age, it is important to establish that he/ she will not be entitled to claim 'pension tax credits' on the basis that the income is too low.

Subject to there being no such risk, why not.

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