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Derek Twigg, MP for Halton

Working Hard for Widnes, Runcorn & Hale

Derek voices concern over 500,000 women forced to wait more than a year for their pension

20 May 2011

Derek has spoken of his anger at Government plans to accelerate the state pension age increases which mean that 500,000 women will have to wait more than a year before receiving the state pension, leaving many women aged 56 and 57 feeling robbed.

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 their state pension.


The unlucky 33,000 born between 6 March 1954 and 5 April 1954 are set to lose around £10,000 in lost state pension or more than £15,000 if they get the full pension credit, with less than 7 years to attempt to accommodate the change.


Derek said:
“The Government’s plans to increase the state pension age disproportionately affects women, and many in Halton are being made to wait up to two years longer for their state pension.  A significant proportion of these are women have juggled working lives with raising a family, and have very little retirement saving to fall back on.  The lack of warning of these changes means they do not have enough time to adjust carefully thought-out retirement plans and leaves them feeling robbed of their pensions.”

 

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