State Retirement Pensions: Females

(asked on 5th November 2021) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, pursuant to the Prime Minister's answer to the Oral Question asked by the hon. Member for Linlithgow and East Falkirk on 3 November, Official Report, col 912, what options the Government is assessing to ensure that 1950s-born women receive fair pensions.


Answered by
Guy Opperman Portrait
Guy Opperman
Parliamentary Under-Secretary (Department for Transport)
This question was answered on 15th November 2021

Under this Government, the full yearly amount of the basic State Pension is now over £2,050 higher than in 2010. For future pensioners, auto-enrolment into workplace pensions has transformed pension saving for millions of workers and our 50 plus: choices agenda aims to maximise the labour market opportunities for people to earn and save for longer.

Auto-Enrolment has been especially transformative for women, low earners and young people, who have historically been poorly served by or excluded from workplace pensions. Between 2012 and 2020 participation for private sector eligible women increased from 40% to 86% (equal to men) and double what it was in 2012.

The Reforms to the State Pension in 2016 put measures in place to improve State Pension outcomes for most women. Over three million women stand to receive an average of £550 more per year by 2030 as a result.

Pension Credit also provides invaluable financial support for the most vulnerable pensioners. We are undertaking a range of actions to raise awareness and increase take up.

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