MSE Poll: Should 1950s WASPI women be compensated? 26 November 2019 at 5:07PM edited 30 November -1 at 12:00AM in Money Saving Polls 98 replies 10.1K views

Annworked42years

YES after working for 42 years contributing national insurance payments every week I do feel I was entitled to my pension at the age of 60. Being advised less than 12 months before retirement age did not give me sufficient time to replan for my retirement.
Where will they get the money? Try using the monies paid in by all the working women to this end. If a private pension company made a decision to extend the date you could draw a private pension by 6 years, after paying in for 40+ Years there would be uproar and probably court cases brought to force them to pay.

hyubh

Lambm wrote: »

I not only had to wait an additional 3 years I get a lower pension for life than a man my age.
As men born in 1951 get the new higher pension but only women born after1953 will get the the new pension worth approx £30 a week more.

It's more complicated than that. The post-16 state pension isn't higher, it's actually lower (although anyone who had already accrued higher than the post-16 amount keeps that). The key difference is that the pre-16 state pension was in two parts, basic and additional, whereas the post-16 state pension is 'single tier' (basically: younger workers who would have earned additional state pension anyway will mostly end up with a lower state pension than under the old system).

That said, it is true that a man could accue a higher additional state pension than a woman, however this was directly due to men's higher SPA (the rate at which a woman accrued SERPS - or a GMP if a member of a contracted-out DB scheme - was quicker, but capped out earlier and lower). So, to be affected on the point I quoted above, you would need to be older, but if older, then the less the impact of the 2016 changes in the first place.

Perhaps post on the Pensions board if you'd like to understand more about your particular situation...?

hyubh

Annworked42years wrote: »

Being advised less than 12 months before retirement age did not give me sufficient time to replan for my retirement.

Decision to raise from 60 was made and publicised in 1993, and on the statute books in 1995...

Where will they get the money? Try using the monies paid in by all the working women to this end.

Used to pay state pensioners of the time. It's all gone!

If a private pension company made a decision to extend the date you could draw a private pension by 6 years, after paying in for 40+ Years there would be uproar and probably court cases brought to force them to pay.

An occupational DB scheme (like MPs', or a bank's, or teachers', or nurses', or school cleaners') can't retrospectively change its NRA indeed. The state pension is technically a contributory benefit however, so so different rules apply.

Marcon

Why Women Against State Pension Inequality, when they do nothing but try to promote inequality?

Paul_Herring

I note that the poll is broken for some users of Firefox; the vote button isn't rendered because FF is blocking 3rd party scripts that haven't been included in the page correctly.

:golf_clap:

Millbrooky

Everyone conveniently forgets that men were discriminated against for ~70 years - they were made to work 5 years longer for their pension despite life expectancy of 7 years less than women.
Will we compensate these men who did lose out - they had on average 12 years less pension than women!
To compensate women who haven't actually lost anything is nonsense - all women were notified that the age was changing, moving the age threshold didn't put them into poverty unless they resigned from their job at 60 without a pension - which would be madness.

Paul_Herring

Will we compensate these men who did lose out - they had on average 12 years less pension than women!

You don't get how this general sexism/patriarchy thing works, do you?

Xenophon

fkcigclrc wrote: »

We have all had our state pension age moved since we started work. Mine is now age 67 and I was born in 1962, ( I am female). Where does the 'compensation' end? It was some of these women that wanted equality so why should men work longer, especially as they don't take time off to have children.

Absolutely, totally agree. Glad to see that some don't only believe in equality when it benefits them.

I'm the same, thought I was going to retire and get the state pension at 64, now it is 67. Will I get 'compensation' as a man? As you say, where will it end!

greefy

Hi,I'm a 61 year old male, am I going to be compensated a year, as I now have to wait until age 66 to retire,
Cheers,
Tony.

Geri~O

In my situation I spent my working life being paid less than men doing the same job, will equality mean I get backdated salary for all those years, no ~ so how can sudden equality in pensions be fair?
People seem to forget equalisation cannot start without looking at past inequality. I have paid NI for 47 years and am not due to get my pension for another 3 years.......50 years of paying in and probably not live long enough to get anything out, but I think that is the general idea.....hope we all die fighting this!