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.
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.
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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.
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Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
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How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
