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.


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.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

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.



Personal finance

Companies cut back on their pensions bills

Britvic is the latest firm hoping a cheaper inflation index will cut pension costs. David Prosser reports.
28 Aug 2019

Good news for pensions savers from HMRC

HMRC has withdrawn its appeal over breaches of the pensions lifetime allowance.
28 Jun 2019
Personal finance

Don’t miss the pensions deadline

There are just five weeks left in the 2018-2019 tax year, so make sure you’ve made full use of your allowances.
6 Mar 2019
Equity release

Equity release: how to tap your house for cash

The pros and cons of releasing equity from your home compared with moving to a smaller one
10 Feb 2020

Most Popular

Investment strategy

The secret to avoiding being panicked out of your portfolio

With the coronavirus continuing to occupy headlines, investors still aren’t sure how to react. But the one thing you mustn’t do is panic. Tim Price ex…
11 Feb 2020
Silver and other precious metals

You should all own some silver. Just don’t expect it to make you rich

Silver is cool, beautiful and immensely useful. But for investors it's the most frustrating of metals. Dominic Frisby explains why you should own some…
12 Feb 2020
Investment strategy

Just five assets matter for investors. Here's what they are

Every investor’s needs are different – but most can be met by the right combination of five investments
11 Feb 2020

Is 2020 the year for European small-cap stocks?

SPONSORED CONTENT - Ollie Beckett, manager of the TR European Growth Trust, on why he believes European small-cap stocks are performing well.
12 Feb 2019