1950s Women Unfairly Affected By State Pension Age Changes
In 1995 the Government increased women’s state pension age from 60 to 65. This brought it in line with men’s. WASPI agrees with equalisation, but does not agree with the unfair way the the Government implemented the changes.
The changes hit women born in the 1950s particularly hard. We are angry that we have been treated unfairly and unequally just because of the day we were born.
We had little or no notice of significant changes to our state pension age. And in 2011 the Government speeded up the process and increased a further rise. Some of us have been hit by more than one increase.
As a result, hundreds of thousands of us are suffering financial hardship. We did not have enough time to re-plan for our retirement. Women are telling us that they can’t believe their retirement age has increased by 4, 5 or 6 years and they didn’t even know about it!!
With no other source of income (until the 1990s many women weren’t allowed to join company pension schemes; many of us are carers or in poor health) securing work is proving impossible and zero contract hours or Job Seekers’ Allowance is the only alternative for many.
So what is the unfair and unequal treatment of 1950s women?
- We did not get proper notice of the changes to our State Pension age when the Government changed the law in 1995.
- The recommendations are for at least 10 years’ notice of changes to State Pension age. Yet the government only began to write to women in 2009, when thousands were already in their late fifties. And many women report receiving no notice at all.
- Women had as little as one year’s notice of up to a 6 year increase to their State Pension Age, compared to men who received 6 years’ notice of a one year rise to their State Pension Age.
What is the impact of the lack of notice?
- The job market isn’t ready to accept older women, so finding a job to cover the unexpected extra years until State Pension age has meant that many women have had to accept zero hours, temporary and low paid contracts, which offer no financial security
- Women are being forced to take jobs which are inappropriate to their state of health
- They are being forced to accept jobs which place them in a worsened financial situation
- Irreversible decisions have been made in the expectation of retiring at 60. For example, many women gave up their job to care for family members, expecting that they would only have to manage without their wage for a short period until they got their State Pension at 60
- Single, divorced or widowed women often have no other source of income
- Women have lost their independence – relying on husbands/partners to support them
- Retirement plans with husbands, partners, children and grandchildren have been shattered
- Women who have planned and saved for their retirement are living on dwindling limited savings until they reach their new State Pension Age when the only income they will have left will be their State Pension