Increase in State Pension Age

RMS2

jiltedpensioner wrote: »

As you know, anyone born after 6 October 1954 has a new State Pension age of 66 years. This is a loss of approximately £42,000 over the six years for every woman affected. I would urge you all to read and sign the online 38 degrees petition by Anne Keen. Simply google reverse the state pension law.

MPs have generous pensions paid for by the taxpayer but they have exempted themselves from their own legislation and will continue to retire early.

And where is your petition for all the men who have had their annuities reduced, to bring them in line with women?


I see you're all for moaning when women are seen to be hard done by, but very quiet when men are hard done by.


Women wanted equality and now they're getting it and they still aren't happy, well it swings both ways, be careful what you wish for in future.

dunstonh

However, I do think the retirement age should apply to everyone no matter what job they're in.

The state pension does just that. However, people making their own provision are free to retire when they want. Just as it should be.

So whether it's NHS, teaching, military, they should all be the same. My brother-in-law has had full pension from the military since age 50 but was still fit enough to get full-time employement elsewhere afterwards.

Do you really want Dad's Army manning the front line battlefields?

BucksLady

I'm only 30, so goodness knows when my SPA will be lol. I'm not banking on it being there to be honest and save accordingly.

However, one aspect of the New State Pension does concern me, and that is, women who do not have enough contributions will be unable to claim a reduced pension on their husband's contributions. I think this will affect quite a few ladies born during the 1950's and 1960's.

zagfles

jiltedpensioner wrote: »

Yes, the petition is about the acceleration in the increase in the State Pension age not the principle of increasing pension age or equalising women with men.

I re-read the petition as I was beginning to wonder if we are all reading the same petition. This is what was the Petition says and what was contained in the Coalition Agreement:

“We will phase out the default retirement age and hold a review to set the date at which the State Pension age starts to rise to 66, althoughit will not be sooner than 2016 for men and 2020 for women“

Well I must apologise - you are quite right - it's there in black and white in the coalition agreement, they did indeed promise that. And then broke it a few month later! https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/78977/coalition_programme_for_government.pdf

Although not sure of the grounds for the complaint - being as the coalition agreement was made after the election (obviously) so it didn't influence votes, and then was broken a few months later - did this promise really cause many people to make plans around their retirement in the small window until it was broken?

As an aside it's interesting to see what other promises they broke, like

We will bring forward plans to reduce the couple penalty in the tax credit system as we make savings from our welfare reform plans.

and

We will extend anonymity in rape cases to defendants.

Maybe half the cast of Coronation Street should start a petition!

Most women accepted the first increase in their pension age with ‘good grace’ and without complaint. However, when the Government emboldened by the lack of protest, targeted the same group of women again for another increase, this was when the petition was set up.

The increase in State Pension age could be introduced more gradually. It was Europe that dictated to the UK Government that it must be accelerated:

"In the same year [2010] Europe decided that it was unfair to raise male retirement age more quickly and so the Spending Review set out another more rapid change for women; the women’s state pension age would now be increased to 65 by 2018 and both men and women would have a retirement age of 66 by 2020”

Interestingly, France ignored this directive and reversed the retirement age to 60 years stating:
“We committed to put this measure in place quickly for social justice for those who started working early,..” - Social Affairs Minister Marisol Touraine.

If you agree with the increase in the State Pension age and the equalisation of the State Pension age for men and women but you do not agree with the acceleration in the increase in the State Pension age, then please sign the petition and write to your MP.

It is certainly not too late to protest, there is an election coming up.

As far as National Insurance contributions go, the amount of qualifying years was dropped to 30 years and then went up again:
“The Government has apologised to tens of thousands of workers who were given misleading advice about the National Insurance contributions they needed to make. Currently 30 years of contributions are needed for a full basic state pension, but this will rise to 35 years when the new "single-tier" pension is introduced in 2016.

However, in a letter sent to thousands of workers before the proposal to raise the requirement to 35 years was set out in a White Paper in January, the Government told them that the number of years needed had "been reduced" to 30 – a reference to a reduction that took effect in 2010. The letters made no mention of the possibility of a rise back to 35 years. One reader contacted The Sunday Telegraph after she received her letter the weekend after the White Paper was published.” Richard Evans, Investment Editor at Telegraph Media Group

The single tier combines the basic state pension (which needed 30 years for a full pension) and the additional state pension (which needed 49 or so for a full pension). So 35 was reasonable, but that's not an excuse for misleading advice.

Spidernick

atush wrote: »

Riding a desK? yeah I can see that . I can't see someone in an army fighting unit out in the heat of the Stan at age 50 or older.

Can't see a fire fighter doing what he has to do on the front line after 50 either.

So they either have to find them other jobs int he service or let them retire earlier. Training, desk jobs etc.

But as said, most Public sector workers ae going to have to work longer now.

Or as we told the OP, if you want to retire earlier, save outside pensions and inside a DC pension and you can.

It is quite feasible for a police officer or fire fighter to retire at 50 and draw on their pension for more years than they pay in. That cannot be acceptable, surely?

atush

So they should stop outsourcing the jobs older workers can do. Keep them in house.

there are physical limitations of these jobs, esp army and fire. Which incl carrying heavy kit loads while performing physical feats in high temps.