Third Sector
 Printable version
|
 E-mail this to a friend
|
Age UK reveals pensions confusion
One in five women nearing retirement age falsely believes they will receive a state pension when they reach 60, new research shows.
According to Age UK, many older women are unaware of changes to the state pension age made in 1995.
The charity carried out a study which revealed that 21% of women aged between 50 and 53 do not realise they will only be eligible for a state pension when they reach 65. It warned that the state pension age could be pushed back even further depending on changes proposed in the Pensions Bill.
Women who were born between April 6 1953 and April 5 1960 are being hit twice by proposals to put back the age at which they can receive a state pension.
The Government's plans to move the women's state pension age in line with men's have been brought forward from 2020 to 2018, while there are also plans to further increase the age at which people become eligible for the benefit to 66 by 2020 - six years earlier than previously planned.
Michelle Mitchell, charity director at Age UK, said: 'Many women who are facing an increase to their state pension age have been working in low paid jobs since they were 15 or 16, some have had to stop working due to health problems, others were counting on retiring to carry out caring responsibilities.
'They have already had their state pension age changed once and this latest proposed change is one step too far by this Government. Telling these women, at short notice, that they now have to wait up to another two years to collect their state pension is unfair.'
The charity warned that the proposals did not give women enough time to adapt their retirement plans, and it is calling for people to be given a minimum of 10 years' notice about any changes to the state pension age.
