York women to lose £1,000s from pensions
12:23pm 15th June 2011
York Central MP, Hugh Bayley, today spoke out against the government’s unfair plans to raise the state pension age more quickly which will force 2,100 women in York to wait for more than a year longer than planned before receiving their pension.
The MP slammed the government’s proposals which will leave many York women aged 56 and 57 feeling robbed as they lose up to £10,000 in pension income.
Across the country, 300,000 women born between 6 December 1953 and 5 October 1954, will have to wait an extra 18 months, and an unlucky 33,000 born between 6 March 1954 and 5 April 1954 will have to wait an extra 2 years, before being entitled to receive their state pension.
The majority of these women will already be well underway in planning their retirement, with many already working reduced hours in order to care for grandchildren or elderly parents. Yet they are now being forced to make significant changes to their financial plans, with only 5 years notice before the changes kick in.
Hugh Bayley MP believes these changes are unfair and he voted against these plans that hit women hardest.
Hugh Bayley MP, says:
“I strongly disagree with the government’s plans to ratchet up the state pension age for women more quickly. 2,100 women in York are being made to wait up to two years longer for their state pension. Many are women who have juggled their working lives with raising a family, and who have very little retirement savings to fall back on. The lack of warning about these changes means they do not have enough time to adjust carefully thought-out retirement plans and leaves them much worse off. That’s why I voted against these unfair plans.”
Labour’s Shadow Minister for Women and Equality, Yvette Cooper MP says:
“From child care support to pensions, from employment to bus travel, it seems David Cameron’s government is determined to hit women hardest. The plans to change the pension age are the latest in a long line of measures which leave women with an unfair deal.
“To hit women harder, when they still have lower earnings, much lower savings and lower pensions than men is unjust. That’s why Labour is campaigning to get the government to rethink these unfair pension changes.”
Labour’s Shadow Pensions Minister, Rachel Reeves, MP for Leeds West says:
“This is another broken promise from the Tory-led government - the Coalition Agreement stated they would not raise the state pension age for women before 2020 but they have shamefully gone back on their word. I will be fighting these changes every step of the way to ensure fairness for those approaching retirement feeling that the goalposts keep being moved.”
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