Transitional State Pension Arrangements for Women Debate
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Baroness Stuart of Edgbaston
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Transitional State Pension Arrangements for Women
Baroness Stuart of Edgbaston Excerpts(8 years, 9 months ago)
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Ms Gisela Stuart (Birmingham, Edgbaston) (Lab)
I, too, declare an interest as someone who was born in 1955. Does my hon. Friend agree that the really objectionable thing is that we know that people need to be able to plan for their pension provision? This cohort of women—we could be talking about factors such as reduced contributions, or not qualifying due to caring responsibilities all the way through their lives—has got it in the neck, so we need transitional arrangements to put that right.
Helen Jones
I absolutely agree with my right hon. Friend, and I will come to that point later.
As I said, the problem was recognised by many people at the time of the 2011 Act. My hon. Friend the Member for Erith and Thamesmead (Teresa Pearce), who has a great deal of expertise in this area, moved amendments that would have protected women born between October 1953 and April 1955 from waiting more than an extra year for their state pension.
Ms Gisela Stuart
I am extremely grateful to the hon. Gentleman for giving way but, given what he has said, how does he defend the disproportionate hit that is being taken by this small group of women? This group had low incomes and therefore could not build up their pension contributions, then they got hit by the reduced rates and they have now been disproportionately hit by the transition period? Why should that cohort take the biggest hit?
Ben Howlett
I thank the right hon. Lady for that intervention but, as I said, as a member of the Women and Equalities Committee and as someone who has campaigned on equalities issues for a while, I believe that the most vulnerable people need to be looked at, if the Government are to review the policy. Unequal pension ages are unfair and unsustainable in an age of greater life expectancy and of women working longer, but we must remember that there are still glaring financial inequality issues for women in this country, despite huge strides made in recent years.