State Pension: Equalisation

Baroness Bakewell Excerpts

Monday 23rd November 2015 Lords Chamber

Asked by

[Baroness Bakewell]

To ask Her Majesty’s Government what plans they have to compensate the women deprived of their expected pensions by the increase in the state pension age under the Pensions Act 2011.

[The Minister of State, Department for Work and Pensions (Baroness Altmann) (Con)]

My Lords, removing state pension age gender inequality by 2018 and increasing pension age to 66 by 2020 was voted on in both Houses, and there are no plans to change it. The more than £30 billion cost of retaining the previous timetable could not be justified, and the Government made a concession in 2011, worth more than £1 billion, limiting maximum increases to 18 months.

[Baroness Bakewell (Lab)]

I thank the Minister for that Answer. There are 700,000 women caught in this brutal pensions trap, and they are already in their 60s. They had hoped to be drawing their pensions, but in some cases, even after 45 qualifying years, they currently have no pension, no pensioner benefits, often no job—having been made redundant—and no right to claim jobseeker’s allowance. What does the Minister suggest they live on?

[Baroness Altmann]

My Lords, I do have sympathy with the women affected. However, I assure the House that they are eligible for the same in-work, out-of-work and disability benefits as men of their age, and for the new state pension.