Inform the debate on the effect of the equalisation of the state pension age on women

mumps

SnowMan wrote: »

I think the BBC are looking for an interesting story so they've just found a professor who has projected a one year trend or something that probably won't continue. The professor seems to be an adviser to the ONS rather than part of the ONS.

In all honesty it is a bit of a guessing game, but if we are trying to look at it objectively then women will almost certainly continue to live longer than men on average at least until we hit a point where state pension amounts become equal.

I'm not assuming the DWP figures are correct though, I find the DWP statistic quite hard to believe, and without seeing the calculation I'm slightly dubious that men will get on average more than 10% less state pension throughout their retirement than women.

Well statistics are always a guessing game but I can see the value of taking out infant mortality rates if we are talking about how much men/women are going to take over the length of the pension. As I said the babies aren't paying NI so not relevant to the pension debate, although very relevant as people.

hyubh

missbiggles1 wrote: »

You get all that on the pre 2016 system.

High earners don't get larger pensions than anybody else.

S2P is still earnings related, even if less so than SERPS.

JezR

Although until recently high earners have been tended to be contracted out, so won't have built up much S2P.

bowlhead99

missbiggles1 wrote: »

You get all that on the pre 2016 system.

High earners don't get larger pensions than anybody else.

The reply was to the comment "Why does everyone imply that just equalising SPa results in equal outcomes when median SP is much less for women than men (abt 75% for 2015 retirees)"

There are several reasons the median SP is lower.
For example, some women may be unaware that they should have claimed a top up through Home Responsibilities Protection for the time they spent being a carer pre 2010. Statistically less likely to apply to men. Following relatively recent rule changes this won't be necessary for women going forward who are only doing that caring post 2010.

Another example, those who have spent long periods out of the labour market, or who are on low earnings, do not build up enough NI credits to fund the state second pension (S2P). S2P is eliminated under the new system and all credits will go towards the single tier. As a high earner, for example, under the system for 2015 retirees, my high pay and no time off would build up my earnings related second pension (SERPS then S2P) and was on course to get a bigger pension than the "average" woman. Because relatively fewer women get to do that. That will go away under the new system for 2016 retirees.

So, when she said "why does everyone imply equalising SPA gives equal outcomes when [look at these stats for 2015]", my point is that the new deal will eventually be helping women such that it *will* be more equal and the stats for 2015 are not the stats under which people will retire from April onward.

There will still be a difference in average pension post 2016, even though everyone gets to lock in the highest from the two calculation methods. Fundamentally though, equal rules for all does not necessarily mean equal cash for all because of different choices made by - and perhaps different luck experienced by - different groups. Same with equal pay rights not corresponding to equal median pay. But equal rules for all is fair. It is being rejigged to accomplish that.

I will no longer get a higher state pension income than a woman because I had a state second pension that she couldn't get into. That is a change for the better for women as my prospective pension income is redirected to them. I am not characterising this as "Robbing Peter to pay Pauline" ; i'm fine with it. The extra NI that I pay compared to the average woman is just a type of tax which helps those who have other things to do with their life than take and keep a high paid job.

mystic_trev

The government wants to make the state pension age 65 for men and women by 2018, and keep raising it after that. It means that some women who were preparing to retire in the next few years will have to wait longer.

The campaign group Women Against State Pension Inequality is asking the government to put all women born after 6th April 1951 "back in the same financial position they would have been in had they been born on or before 5th April 1950".

And their petition to challenge the government now has the 100,000 signatures it needs to force parliament to examine the matter.

But the pensions minister Baroness Ros Altmann told BBC Breakfast the Women Against State Pension Inequality's campaign is "misleading" and "prolonging an inequality" in their demands for compensation for the women affected.

http://www.bbc.co.uk/news/live/business-35439020

missbiggles1

hyubh wrote: »

S2P is still earnings related, even if less so than SERPS.

You have to reach a certain income level but that isn't the same as saying that high earners get higher state pensions.

https://en.wikipedia.org/wiki/State_Second_Pension

pandora205

Does anyone know if today's debate is being televised live, and if so where?

Thanks

Pollycat

pandora205 wrote: »

Does anyone know if today's debate is being televised live, and if so where?

Thanks

Details here from the original post (see bit in red):

UKParliament wrote: »

On Monday 1 February at 4.30pm, the Petitions Committee will be holding a debate in Westminster Hall on the petition 'Make fair transitional state pension arrangements for 1950’s women'. Having seen the comments in a previous MSE thread on this topic, the Committee would like to ask for your help in informing this forthcoming debate.

The Committee would like to hear:

• What were the most important points in the first debate for you? What do you think should have been covered that was not?
• What points do you think a second debate should focus on?
• What questions would you ask the Minister following their response to the debate?

Watch the first debate
Read the official report of the first debate

Your comments will be shared with MPs prior to the debate on 1 February. This is your chance to get involved and influence the work of Parliament.

Comments need to be posted by 10am Thursday 28 January.

Watch the debate from 4.30pm on Monday 1 February on Parliament TV.



Further information

The House of Commons Library has produced a research briefing for the forthcoming debate, 'Increases in the State Pension age for women born in the 1950s'.

For more general information, please take a look at the House of Commons Library research briefing titled 'The new State Pension - transitional questions.'

The House of Commons Library produces research briefings which provide in-depth and impartial analysis of all major pieces of legislation, as well as many areas of policy, or cover frequently asked questions and topical issues.

pandora205

Thanks Pollycat - I should have reread the thread instead of wasting time looking at TV schedules!

Pollycat

pandora205 wrote: »

Thanks Pollycat - I should have reread the thread instead of wasting time looking at TV schedules!

If you'd started doing that, you'd probably have missed the debate. :rotfl:

I'm usually in on Mondays but have to go out so hoping to record it.