Published On: Mon, Aug 17th, 2020

State pension fury: 1950s women shouldn’t have been affected – ‘Lives made intolerable!’ | Personal Finance | Finance

Featured Offers

Legal Notice: Product prices and availability are subject to change. Visit corresponding website for more details. Trade marks & images are copyrighted by their respective owners.

The state pension age for women which rose to 65 to bring it into line with men, went up to 66 this year and will go to 67 by 2028. But campaign group Back to 60’s UN representative, Davina Lloyd has claimed 1950s women should not have been chosen to be affected by the age increase due to prior discrimination. She said that hardships from 1950s women has made them a “sub-class”.

Speaking to, Ms Lloyd said: “When Government puts in new legislation as it did in 1995, it is legally bound to do two things.

“It has to do an impact assessment to see what would happen to the stakeholders.

“Secondly, you must give those affected, by your changes, notice.

“In 1995, they did neither. Neither of the statutory legal things they should have done.

READ MORE: State pension: 1950s women not allowed to pay into pensions

“If they had done them they would not have chosen 1950s women because of all the prior discrimination made a ‘subclass’ of women.”

Ms Lloyd went on to explain that 1950s women saw their lives made “intolerable” by the age change.

She said: “A lot of married women weren’t allowed to be educated and therefore those women had low paid jobs.

“If you’re in a low pay job in the 60s and early 70s, you were not able to pay into a pension.

“There was a bar at which anyone earning a pittance which they were couldn’t pay into the state pension.

In April, queries from customers about their pension fell by nearly a third (31.9 percent) compared with April 2019, according to the Association of British Insurers (ABI).

The number of people withdrawing all their pension in one lump sum fell by 30.2 percent and the number of people drawing down their pension as a flexible income fell by more than two-fifths (42.2 percent).

The ABI said it expects pension withdrawal rates to increase as the lockdown eases.

The body is urging people who are considering accessing their pension to seek impartial financial guidance from Pension Wise, which is available to the over-50s, or seek regulated financial advice, and to ask their provider about their options.

Source link

Clickbank Guide & Tools