“A generous basic state pension is the least a civilized society should offer those who have worked hard and saved through their whole lives." George Osborne
It was Tory Chancellor of the Exchequer Kenneth Clarke in 1993 who first announced plans to raise the pension age of women from 60 to 65 years of age. The Tories 1995 Pension Act enshrined this in law but the changes were to be phased in between 2010 and 2020. So far so good – lots of warning, giving women plenty of time to financially prepared for the fact the OAP would not be available until they were 65.
Enter David Cameron, George Osborne, Nick Clegg and the Coalition Government of Austerity. In 2011 they decided to accelerate the changes and bring forward the state pension age for women to 65 by November 2018 and then to 66 by 2020.
Displaying typical Tory disregard for the detrimental financial effects this might have on ordinary working women, and displaying a total lack of common decency, some women claimed “they only received 12 months notice of the six-year delay to their pensions." (Guardian: 21/03/24), giving them no time to prepare for their unexpected loss of pension.
What is more The Parliamentary and Health Service Ombudsman found the Department of Work and Pensions “guilty of misadministration in its handling of the changes.”
Meanwhile Jeremy Hunt, in his latest budget has given millions away to the wealthy in pension tax breaks.
“Financial firms have said the changes to pension allowances could let high earners who can afford it build up pension pots worth as much as £9m while enjoying the full tax benefits.” (Guardian: 16/03/24)
We deserve better.
