Sign the Petition for Womens state pension age going up unfair

patanne

I don't think people associate the 'if it sounds too good to be true it probably is' with governments, but they should. Remember when Maggie Thatcher said we will bring down income tax rates? A lot of people said oh great we'll have some of that. How many of them asked - what are they going to put up to pay for it? It was VAT almost doubling by the way.

The same with this increase to state pensions of over 30% in a time of austerity. I know they said about it removing the need for pension credit, but did anyone seriously think that the removal of pension credit was going to pay for the increase? The 2 words NO CHANCE spring to mind. The first thing I did was go & look for the catch & this change was never going to affect me.

These are politicians with the papers in their pockets, where spin is now of far more importance than substance. We need to be even more vigilant than ever about their announcements etc.

jem16

rosehip wrote: »

Firstly, I remember when the 1995 Act was passed it talked about equalising pensions by 2020 giving the impression that anyone reaching pensionable age before then would come under the old rules, ie 60 for women.

It never gave that impression at all. It clearly stated that for anyone reaching state pension age before 2010 it would be age 60. From 2010 onwards it would begin to rise and by 2020 it would be equal at 65.

So you appear to be remembering wrongly or totally misunderstood.

I sent for a pension forecast circa 2007 and it came back that I would be entitled to a full state pension with no mention of it not starting until after age 60.

Pension forecasts from 2001 all clearly gave the date under the 1995 regulations. I have a pension forecast from 2004 that shows my state pension date of 2021 as opposed to 2016. So either your forecast was earlier than 2001 or you didn't check the actual date given.

Then the coalition in 2010 immediately raised the state pension age again and the starting date for my SPA was delayed by another 20 months.

The reduced in 2011 to a maximum of 18 months - bad news I agree.

When the new flat rate for all was touted with a great fanfare, I thought at least I would get that, having easily over 35 years of NI contributions, but of course having been contracted out for a number of years and being penalised for it, I'm not going to get anything close to the new flat rate pension of £155 a week.

You're not being penalised as you will get what you were always going to get through being contracted out - ie at least the full basic state pension plus your contracted out pension within your private pension.

You will also be able to increase your pension after April 2016 if you wish so you'll be gaining.

The last straw is that I have recently been told by my company pension scheme that approximately a sixth of my final salary pension will not get any further inflation increases at all as under the old rules the government paid the inflation on this but under the new rules the government have reneged - my words - on this pledge.

Yes the GMP inflation issue is there and it's probably a bigger issue for many than 1950s women feeling entitled to a roll back of their pension to age 60.

But there are financial decisions I would have made differently had I known 20 years ago I wouldn't get my state pension at 60 and I do now feel very aggrieved.

The information was there for anyone doing any actual planning.

Out of interest what would you have done differently?

I know other women in my age group will be suffering real financial hardship through no fault of their own but just through believing they could trust their own government.

Anyone with real hardship problems should be helped - nobody here would disagree.

However compensation for all 1950s women to give them what they would have got if retirement age was still 60 - you really agree with that?

jem16

patanne wrote: »

The same with this increase to state pensions of over 30% in a time of austerity. I know they said about it removing the need for pension credit, but did anyone seriously think that the removal of pension credit was going to pay for the increase? The 2 words NO CHANCE spring to mind. The first thing I did was go & look for the catch & this change was never going to affect me.

Yes I went to look too for the same reasons. Thought it might be good for me for all of 5 minutes, if that.

missbiggles1

patanne wrote: »

I don't think people associate the 'if it sounds too good to be true it probably is' with governments, but they should. Remember when Maggie Thatcher said we will bring down income tax rates? A lot of people said oh great we'll have some of that. How many of them asked - what are they going to put up to pay for it? It was VAT almost doubling by the way.

The same with this increase to state pensions of over 30% in a time of austerity. I know they said about it removing the need for pension credit, but did anyone seriously think that the removal of pension credit was going to pay for the increase? The 2 words NO CHANCE spring to mind. The first thing I did was go & look for the catch & this change was never going to affect me.

These are politicians with the papers in their pockets, where spin is now of far more importance than substance. We need to be even more vigilant than ever about their announcements etc.

Many of us thought - thank goodness I retired before 2016 or I'd've been far worse off. (Although I gather transitional arrangements will cover that for a few years.)

missbiggles1

jem16 wrote: »

It never gave that impression at all. It clearly stated that for anyone reaching state pension age before 2010 it would be age 60. From 2010 onwards it would begin to rise and by 2020 it would be equal at 65.

So you appear to be remembering wrongly or totally misunderstood.



Pension forecasts from 2001 all clearly gave the date under the 1995 regulations. I have a pension forecast from 2004 that shows my state pension date of 2021 as opposed to 2016. So either your forecast was earlier than 2001 or you didn't check the actual date given.



The reduced in 2011 to a maximum of 18 months - bad news I agree.



You're not being penalised as you will get what you were always going to get through being contracted out - ie at least the full basic state pension plus your contracted out pension within your private pension.

You will also be able to increase your pension after April 2016 if you wish so you'll be gaining.



Yes the GMP inflation issue is there and it's probably a bigger issue for many than 1950s women feeling entitled to a roll back of their pension to age 60.



The information was there for anyone doing any actual planning.

Out of interest what would you have done differently?



Anyone with real hardship problems should be helped - nobody here would disagree.

However compensation for all 1950s women to give them what they would have got if retirement age was still 60 - you really agree with that?

Or any actual thinking.;)

jem16

missbiggles1 wrote: »

Many of us thought - thank goodness I retired before 2016 or I'd've been far worse off.

You wouldn't have been unless you had less than 10 years NI.

(Although I gather transitional arrangements will cover that for a few years.)

They do. Many are actually better off under current rules than new and will get that. WASPI don't believe it though as Paul Lewis has "advised" them otherwise.

missbiggles1

jem16 wrote: »

You wouldn't have been unless you had less than 10 years NI.



They do. Many are actually better off under current rules than new and will get that. WASPI don't believe it though as Paul Lewis has "advised" them otherwise.

The new SP is considerably lower than the SP that I (and many others) receive under the current system.

jem16

missbiggles1 wrote: »

The new SP is considerably lower than the SP that I (and many others) receive under the current system.

Exactly. You would still get that even if your state pension age was after April 2016.

jem16

Well Thursday's debate seems to be centring around the 2011 changes - WASPI may be disappointed as they want roll back or compo to age 60 for everyone regardless of circumstances.

EFFECT OF THE EQUALISATION OF THE STATE PENSION AGE ON WOMEN

Mhairi Black

That this House while welcoming the equalisation of the state pension age is concerned that the acceleration of that equalisation directly discriminates against women born on or after 6 April 1951, leaving women with only a few years to make alternative arrangements, adversely affecting their retirement plans and causing undue hardship; regrets that the Government has failed to address a lifetime of low pay and inequality faced by many women; and calls on the Government to immediately introduce transitional arrangements for those women negatively affected by that equalisation.

missbiggles1

jem16 wrote: »

Exactly. You would still get that even if your state pension age was after April 2016.

But, when the new SP was announced, nobody knew that there would be transitional protection. Those who had been only expecting to receive the basic SRP thought (rightly) that they'd be getting a lot more whereas those of us who were already getting SRP+SERPS+S2P thought (wrongly) that we would've received less had we been born later.