Altmann: warnings on women’s state pension ignored

Former pensions minister Ros Altmann has claimed her warnings that changes to the state-pension age would have a detrimental impact on women were ignored at all levels of government.

917_MW_P29_Pensions_Bottom

Altmann speaks out

A former pensions minister has claimed her warnings that changes to the state-pension age would have a detrimental impact on women were ignored at all levels of government.

As pensions minister from May 2015 to May 2016, Ros Altmann was repeatedly lobbied by Women Against State Pension Inequality (Waspi). This group represents women who believe that changes to the state-pension system agreed by parliament in 2011 were poorly publicised, with millions of women not realising they would have to wait longer before claiming their state-pension benefits.

While in office, Altmann told campaigners the government could not change course or offer compensation. On stepping down, however, she attacked the government for its intransigence on the issue. Now she has gone one step further, claiming that both Steve Webb, then the work and pensions minister, and Iain Duncan Smith, the secretary of state, had refused to listen to her concerns or to consider delaying the plans. Altmann also claims she had drawn up an alternative plan for reform that would eventually have delivered bigger savings than the initial proposals, but says that this was ignored.

The Waspi campaign is calling for a bridging pension to be paid to women whose retirement age has been put back by the 2011 reforms, but successive governments have rejected the idea.

Recommended

Does part of the £50bn lying forgotten in dormant accounts belong to you?
Personal finance

Does part of the £50bn lying forgotten in dormant accounts belong to you?

Around £50bn of our money is just sitting in dormant bank, savings and pension accounts. Make sure none of it's yours, says Ruth Jackson Kiry=by.
20 Apr 2021
The minimum pension withdrawal age is set to rise – don’t get caught short
Pensions

The minimum pension withdrawal age is set to rise – don’t get caught short

From April 2028, the earliest age at which you can take money from your pension savings will rise to 57. It's vital that you understand the detail of …
13 Apr 2021
Make sure you max out your pension contributions this year
Pensions

Make sure you max out your pension contributions this year

If you're saving for retirement, make sure that you have used up all their allowances before the tax year ends, and contributed as much to your pensio…
31 Mar 2021
Make sure you don't go over the pensions lifetime allowance
Pensions

Make sure you don't go over the pensions lifetime allowance

Breaching the lifetime allowance for pension savings could prove very costly, says David Prosser.
15 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
The FTSE 100 has clawed back above 7,000 – how much higher can it go?
UK stockmarkets

The FTSE 100 has clawed back above 7,000 – how much higher can it go?

The FTSE 100 index has risen to over 7,000 for the first time in over a year – it now sits just above where it was in 1999. But its era of neglect cou…
19 Apr 2021
The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021