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MSE Poll: Should 1950s WASPI women be compensated?

edited 30 November -1 at 12:00AM in Money Saving Polls
98 replies 10.1K views
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  • Paul_HerringPaul_Herring Forumite
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    tgroom57 wrote: »
    I am urging all my family to choose pension schemes that payout at a given age, and not linked in any way to the State Retirement Age.

    Unfortunately that may not be a possibility, since after 2028, access to personal pensions may be tied to the SRA, specifically 10 years prior. They're restricted to 55 at the moment.

    One such article - from 2014, but there are others, along with various discussions on this board.

    https://www.telegraph.co.uk/news/10982177/Age-40-No-access-to-pension-until-58.html
    The "private pension age" will rise from 55 to 57 in 2028 and will then be linked 10 years below the state pension age, which is already due to be linked to longevity.

    Basically, it was proposed to link the two, a consultation was had, and... nothing. But that's not to say it won't happen, nor should anyone proceed on the basis that it won't happen. They are still able to enact that change at any time they wish.
    Conjugating the verb 'to be":
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  • PollycatPollycat Forumite
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    tgroom57 wrote: »
    I am of the age affected by this. I haven't voted because the choices are too stark. I was fully aware when the age rose from 60 to 63, and had planned for that. But the extra rise from 63 to 66 came suddenly and distinctly unexpected- since the age had already changed once, I didn't expect it to change again (so soon!)

    I am in favour of the original 63 years being honored, which is why I couldn't vote for any choices listed.

    The pension for 6 years comes to in the region of £36,000 plus there are other benefits that are only open to ppl reaching State Retirement Age (Pension Credit, Winter Payments.) I can only hope the bus passes don't follow suit.

    I am urging all my family to choose pension schemes that payout at a given age, and not linked in any way to the State Retirement Age. But someone finding themselves unemployed at 55+ can expect to be made to draw their
    pension arrangements and come off the unemployed list.

    I'm not interested in Labour "promises"- they can't be trusted with money.
    And they certainly can't buy my vote.
    The bus passes have already followed suit - at least where we live.


    It is now linked to the state pension age.
    From Gov.uk:

    Your bus pass age

    The date you qualify for a bus pass is:
    The dates may be different in some areas, check with your council when you can apply for a bus pass.
    You can get a 60+ Oyster card from Transport for London if you live in Greater London.
    The above showed my husband's details so I've replaced that with xx - but it showed his 66th Birthday which is when he reaches state pension age.
  • @happyinflorida

    'Many have committed suicide because they were left in poverty and too embarrassed to ask anyone for money'

    Evidence?
  • SilvertabbySilvertabby Forumite
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    @happyinflorida

    'Many have committed suicide because they were left in poverty and too embarrassed to ask anyone for money'

    Evidence?


    Possibly the same source that claimed that 60+ year old women, who were too sick to work, were turning to prostitution to make ends meet.
  • Paul_HerringPaul_Herring Forumite
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    Possibly the same source that claimed that 60+ year old women, who were too sick to work, were turning to prostitution to make ends meet.

    It would appear so (the prostitution one's a new one one on me):

    https://www.express.co.uk/finance/personalfinance/1195635/state-pension-age-change-news-women-waspi-back-to-60-state-pension-rate-2019-high-court
    Deena Wild, a Backto60 campaigner, claimed women born in the 1950s and 1960s are now “starving” after the retirement age change. She believes their lives have depleted as some are reportedly living in food banks or sofa-surfing.

    [...]

    Speaking to Express.co.uk, Ms Wild said: “Some of these women who are actually dying.

    “They’re committing suicide, they’re having to turn to prostitution at the age of 63, I know one woman.

    A largely evidence-free assertion it appears.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
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  • edited 29 November 2019 at 6:02AM
    jamesdjamesd Forumite
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    edited 29 November 2019 at 6:02AM
    tgroom57 wrote: »
    I didn't expect it to change again (so soon!)
    The Turner Pensions Commission reports from 2003 to 2005 recommended that and some of the other changes we've seen. That won't help you but it does mean that people who saw the news coverage knew that more changes were likely. So it seems as though you might have missed news coverage like this from 25 May 2006 "State pension age to rise to 68 ... The state pension age for men and women will increase to 66 in 2024, to 67 in 2034 and 68 in 2044. Each rise will be phased in over two years". That was the schedule before the faster increase to 66 for men and women was introduced.
    tgroom57 wrote: »
    I am urging all my family to choose pension schemes that payout at a given age, and not linked in any way to the State Retirement Age. But someone finding themselves unemployed at 55+ can expect to be made to draw their
    pension arrangements and come off the unemployed list.
    The benefits rules and even bankruptcy law don't touch pensions before Pension Credit age is reached or the person chooses to take some pension. Even then only the bit touched is affected.

    Today the pension schemes linked to the state pension age are normally just the typically quite generous public sector schemes and it's a very bad idea to choose not to use those. What those in the public sector can do is also use defined contribution schemes that the private sector uses. That money can be taken from 55 and used to bridge the gap, perhaps combined with taking a reduced pension before state pension age, which the public sector pensions can provide.
  • fudgecatfudgecat Forumite
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    Started work at 14. Worked full time continuously including through the birth and raising of two children (minimal maternity leave - enough to give birth and recover, then back to work). Paid full stamp all my working life. Worked, raised kids, kept house, did voluntary work in evening around school PTA, etc, cared for relatives, etc. Was paid either less than male equivalents, or held back from promotion because I was the one who had to take annual leave if the kids were ill at little notice- or take unpaid leave. You are therefore deemed either unreliable or lacking commitment compared to male colleagues who have children and a wife to deal with them. All childcare was paid from taxable income in those days - we calculated I could have bought a house for the childcare fees. No relatives to help out - ever. Expected to retire at 60. Women of my age and experience have been poorly treated.
    Debt September 2020 BIG FAT ZERO!
    Now mortgage free, sort of retired, reducing and reusing and putting money away for grandchildren...
  • It would appear men and younger generations believe we shouldn’t be compensated but what they fail to consider/ know/understand is that some of these women left school to [email protected] 14 then 15 whereas now all children stay @ school until 18. Childcare funding/nursery care were on brought in in the 1990s when these women were already in their 30s and had to take lesser jobs/part time jobs to facilitate childcare during holidays. Same women were discriminated by businesses paying women of same experience less and promoting men for better jobs. What about the women whose are divorced by their men wanting a newer, younger model who are then left looking after the children thus no options for savings/ promotions/ good pay scales/ good occupational pensions. What about the long hours mothers would work without the labour saving devices of nowadays and the health issues that women experience in their middle years. So, no, women will never be equal to men because society and business and men still do not give all of us the same pay, same opportunities as their male counterparts. Yes, things are better but still have a long way to go as illustrated by the pay scales of men and women doing the same job at the BBC. Many Waspie women have medical conditions that force them to take lesser jobs and were looking forward to retiring @ 60 so are really struggling. Finding work in your 40s/50s/60s is hard. So, every young woman in their teens/20s now needs to think carefully about children because, though we love them, they can be so detrimental to your financial life especially if you are their sole provider/carer and that can also affect your physical health.
  • edited 30 November 2019 at 9:38AM
    MurphybearMurphybear Forumite
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    edited 30 November 2019 at 9:38AM
    This subject has been discussed at length elsewhere on MSE.

    One asked

    “I'm sure these Waspi's will be happy to give up their bribe so that the money can be used to save the NHS, cure homelessness, etc.”

    My response was a resounding yes. I would want it to go to the NHS to provide better services for the age group we are talking about. In particular knee/hip replacements and cataracts.

    These discussions are largely academic. It is extremely likely that JC will notl be PM so we won’t be getting any money anyway.
  • Paul_HerringPaul_Herring Forumite
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    Murphybear wrote: »
    These discussions are largely academic. It is extremely likely that JC will be PM so we won’t be getting any money anyway.

    I think you some letters there...
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
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