Womens State Pension

newcastlebelle

still think its wrong moving the goal posts mid match

when I started work at 18, I was looking forward to retiring at 60..........now after 30 years of working , I've been informed I've got to wait til I'm 66!

Oldernotwiser

newcastlebelle wrote: »

still think its wrong moving the goal posts mid match

when I started work at 18, I was looking forward to retiring at 60..........now after 30 years of working , I've been informed I've got to wait til I'm 66!

No government could change things and give people 50 years notice!

Don't forget, when you started working you were told you'd need 39 years contributions for a full pension; now it's only 30. Swings and roundabouts come to mind.

jamesd

newcastlebelle, good luck with any campaign that insists on you getting exactly the deal you started with, but you really should consider the implications.

Many of these changes are because people are living longer, so the pensions have to pay out for more years.

To get your original deal you'd have to agree to losing ten or more years of your future life so that the payment duration matches the contribution duration it was set up for. Also, some of those of us living and not retired yet would have to agree to die before retirement so that the number who don't get it at all matches the original deal.

It doesn't seem so unfair once you realise why it's happening. You're getting a longer retirement in exchange, courtesy of the improving healthcare part of the deal.

Pollycat

anne-marie
I'm surprised that you were unaware of the fact that your state pension wouldn't be paid at age 60 butinstead is deferred to age 63.

I too was born in 1953, I've been aware for years and years that the state pension rules for women have changed.

In fact, for so many years I can't remember when this was first decided.
I've been (early) retired for almost 5 years now and I knew about these changes when I was still at work.

Oldernotwiser

These changes were introduced in 1994/5, nearly 20 years before the OP was due to retire. How much notice does a person need?

EdInvestor

Oldernotwiser wrote: »

These changes were introduced in 1994/5, nearly 20 years before the OP was due to retire. How much notice does a person need?

It looks like as many as 40% of people didn't know in 2003/04, according to DWP research.

http://www.dwp.gov.uk/asd/asd5/summ2003-2004/221summ.pdf

margaretclare

Oldernotwiser wrote: »

These changes were introduced in 1994/5, nearly 20 years before the OP was due to retire. How much notice does a person need?

Well, I seem to have known about it for ever. Not that it would have bothered me anyway. I worked until I was 67 - no big deal.

chesky369

The human being has a perfectly perverse ability to ignore anything it really doesn't want to hear until it becomes a crisis in its life. At that point the person concerned truly believes everyone has conspired to keep it from them.

seven-day-weekend

There is someone who lives near me here in Spain who didn't know until last year (when I told her) - she is only in her 40s and was expecting to get her pension at 60! In fact has budgeted her capital to last only until then.

It's not as though she has been in Spain for years either, she only came three years ago.

I seem to have known for years too.

EdInvestor

seven-day-weekend wrote: »

I seem to have known for years too.

Although the legislation only went through in the 90s, the idea of equalisation had been discussed much earlier.Once the Sex Discrimination Act went through in 1975 which covered all financial services except pensions, you could expect some men to start complaining that in the pension area, it was them that were victims. Then the EU passed some more equal opps rules affecting benefits, so pension credit was equalised. IIRC there was talk about pension age equalisation in around 1986 when the tax rules were changed to get rid of married allowances.

IMHO the main reason it took them so long to equalise the retirement age was that they knew they would have to equalise everything else - and that will cost them a bomb The pre 2010 women'st pension is hardly paid to anyone (35%) and is anyway a pale, very cheap imitation of the male version.Post 2010 it's a very different story.Hence the delay.