Women's Pension Age(21 Posts)
I posted this on campaigns but I now think it might be better on here, I like particularly to know if you are in you 30's or 40's your views on these changes?
Just in case some women haven't heard..........here is some info from the DWP site re the Government's announcement on changes to State Pension age as follows:
Currently, the State Pension age for men is 65. On 6 April 2010, the State Pension age for women started to increase gradually from 60 to 65, to match mens.
The government has announced new proposals for increasing State Pension age. This will mean womens State Pension age will increase more quickly to 65 between April 2016 and November 2018.
From December 2018 the State Pension age for both men and women will start to increase to reach 66 by April 2020.
Any change to the timetable would need the approval of Parliament.
Women born before 6 April 1953 and men born before 6 December 1953 will not be affected by these new proposals.
The government will be publishing more details about the proposed changes shortly and further information will be placed here.
The government is also considering the timetable for future increases to the State Pension age from 66 to 68.
This is from the Independent newspaper:
Women will be the biggest losers from the rise in the state pension age. The age at which women can collect the state pension was supposed to rise gradually from 60 to 65 by 2020, but under the Coalition's plans it will rise further and faster. The state pension age for women will reach 65 by December 2018 and 66 by April 2020, bringing it in line with men.
The biggest losers are some of the women born around 1954, said Rash Bhabra, head of corporate consulting at Towers Watson. A woman born on 5 April 1953 will still be able to claim her state pension when she is just 62 years, 11 months and one day old. A woman born a year and a day later will have to wait until she is 66. The extra three years of missed state pension income could be worth more than £15,000.
The hike in womens pension age is draconian according to the former government adviser and director-general of Saga, Ros Altmann. We all know something has to be done about pensions but it seems that women are bearing the brunt. The French are out on the streets but British women are expected to swallow a rise of six years in their pension age over a decade.
Dr Altmann said that the current government policy of allowing employers to force their staff to leave at 65 was incompatible with the new higher state pension age: We face the prospect of women and men having to leave their jobs at 65 on their employers whim and then having to live off unemployment benefit while they wait for the state pension to kick in, which itself is one of the worst paying in the developed world.
The changes to the state pension could save the Exchequer up to £5bn a year and it now looks increasingly likely that the date of further rises in the state pension age to 67 and 68 previously planned for 2036 and 2046 respectively will also be brought forward.
The French are rioting about rise from 60-62 before they get their pensions...men and women.
We accept the rises and carry on.
Keep calm and carry on!
We are mere women!
The pospect of working until age 66/67 might be attractive to some but for others whose jobs are menial and low paid , well, maybe thats another story..........
What do others think?
ooh and sorry for the second post.
Why shouldn't women have to work to the same age as men.
I agree with Huddspur I don't see any reason why the female state pension age should be lower than the male one. My DH does a job that could be described as menial and low paid, should we allow him to retire early?
Life-expectancy for women is around 80 at the moment and, at 66, most people these days would not describe themselves as elderly. I think raising the state pension age makes a lot of sense and there is no good reason why women should retire earlier than men.
tbh, even before the coalition got in, I always thought that my generation would have to retire at 70 and the state pension would disappear. (I'm 38 btw)
I think its right for men and women to have the same retirement age as I see no reason why women should retire early.
Women can't moan about lack of equality in the workplace and then expect to retire earlier than men? It makes no sense.
I personally think it's fine, I don't see that women should retire earlier than men.
I do think that for women older than me - who will have been anticipating retirement any minute and then suddenly they've got a more years to go - it's a bit of a bugger.
Womens life expectancy is higher than mens so if there was going to be one gender that retired earlier than theother it should have been men. I agree with the equalising of the ages.
There are issues surrounding this about women getting much lower pensions generally than men and so on.
But I think those should be dealt with separately TBH.
ISNT makes a good point regarding womens pensions, by extending the number of years that women have to work before getting the state pension women should be able to make more pension contributions and get a better private pension.
I'm not sure it works like that politac! It's an issue to do with jobs that women do and working part-time and taking time out for children etc. So I don't think it will be cured by a couple of years extra conts.
Alig, I am 44 and have known for about 5 years if not longer that I wouldn't get my state pension until I am 66, This is nothing new.
The last govt also lowered the amount of years necessary to get a full pension from 40 to 30, so that helps women, as does the HRP that goes with cb until your child is 12.
'The extra three years of missed state pension income could be worth more than £15,000. '..as opposed to the say £90k plus they could perhaps earn over those three years as a teacher for instance. If you keep working, then you have your salary which will be more than the pension anyway.
I think state pension should be same for both sexes.
Given life expectancy has increased from 70 to 80+ over past thirty or so years, state pension age for both sexes should probaby be set at say 75 for both. At 66 or even 68 far too many people capable or working will be getting a pension, with a smaller number of taxpayers supporting them
No reason why women should expect to retire earlier than men, it is a bizarre and outdated concept.
In lots of ways, this should be seen as a good thing. Women able to keep working longer at the better paid end of their careers, more time to save for retirement and annuity rates should improve because a pension will have to pay out for fewer years. All good IMO.
Retirement was never meant to last more than about 5 or 10 years. Women statistically have longer life expectancies than men, so why shouldn't the retirement age for them rise accordingly?
It's not sustainable to have an increasingly ageing population who expect the state to support them entirely whilst they don't work for 30 or 40 years.
DH and I will have to work till we drop or I top myself, there'll be nowt left for people like us, in our mid and late-30s.
Deal with it.
That's how life is for most - a big fat fuckover, and we're far luckier than most for being in the West. Why do you think so many people are religious? Because for many this life is so miserable the prospect of something better is a lot of what keeps despair at bay.
For my self (late 30s) I don't have a problem with this. It could have been predicted ages ago and the gap in retirement ages between women and men is a wierd anomaly.
For my aunt, born in 1954 who has just seen her sister (my mother) retire at 60, I can see that it's going to feel like a kick in the teeth as they've added a lot of years on, very quickly before she qualifies for her state pension. I know she was planning to retire at 62 .
I totally agree with the Saga woman's comment about changing the law on companies forcing people to retire at 65 though - we CANNOT have a situation where someone can be legally forced out of their job several years before they are able to claim their state pension.
I agree with both sexes having the same retirement age, but I'm wondering how the younger people will find employment when the what would've been retired people are still in their jobs...there aren't enough jobs now and they are getting less, not more, so what will the younger ones do? go on benefits which will cost possibly just as much as the state pension would for (probably) less people. That makes no sense to me.
I think the retirement age should be the same for men and women. I also agree that it is unsustainable to have it at such a young age when life expectancy is so high - in some cases pensions will be getting paid out for as long as the person was in employment - how are younger generations going to be able to support this? But I do also worry about younger people being unable to find employment due to older people staying in jobs for longer - a current example of this is in teaching where there are able, qualified people coming through who can't find jobs because people are staying on past retirement or (which I think is a bit bad as it hits both aspects) people taking their pension then working on supply or part-time. Very difficult one to balance. I'm 26 now so doubt there will even be such a thing as a pension by the time I'm in my 60s or 70s.
We should raise it to 70 for both sexes and also they should remove the losing your job at 65 thing too and the are doing that so that's all to the good.
When state pensions were set up people typically survived about 2 - 3 years in drawing them. Now it can often be 30 y ears. We cannot afford that now.
equality means accepting everything good and bad women need to accept that
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