Pensions Bill [Lords]

Debate between Gregg McClymont and Lyn Brown

Tuesday 18th October 2011 Commons Chamber

[Gregg McClymont]

In the event that a modification in the timetable is necessary, and in answer to the questions about where the savings would come from, it may well be that the Government would do better to speed up the timetable for a state pension age of 67 and 68. That is something that we would consider. It is a much more sensible option than this disproportionate, unfair and unjust hit on women aged 57 and 58, of whom there are 500,000.

[Lyn Brown (West Ham) (Lab)]

My hon. Friend’s point is well made. The Government’s position seems to be based on an assumption that women work for pin money. There is no understanding that women take time out for child care, that their pension pots are much smaller than those of men, and that these changes will create genuine hardship for the women on whom they impact.

[Gregg McClymont]

My hon. Friend is right. She represents a constituency where many women will be affected, particularly low-paid women. The proposed change has a socio-economic dimension of which I am sure the Minister is aware.

The amendment would make a real difference to the lives of the women affected. It is designed to secure a limited reform, targeted at a specific group whom the Government are not treating fairly, and it would give rise to costs representing just over 1%—one 100th—of the annual pensions budget.

The Chancellor has previously said that

“we are not going to balance the budget on the backs of the poorest and the most disadvantaged,”

but the costs of this Tory-led Government’s acceleration of the state pension age equalisation timetable targets a group with limited resources.