Labour calls for women to have earlier retirement option

Old Women With Money
Labour are calling on the Government to lower the retirement age of women born in the 1950’s to 64 instead of 66.

The new campaign would allow women born in the 1960’s to retire on a reduced state pension at the age of 64.

Debbie Abrahams, the Shadow Work and Pensions Secretary, will make the announcement at Labour’s annual conference in Brighton, where she will address the Government’s “chaotic” changes to retirement.

Abrahams’ new initiative would give pension security to thousands, benefiting women born between 1954 and 1960.

The Waspi – Women Against State Pension Inequality – campaign aims to help women whose retirement plans have been compromised after the timetable for a later retirement age extended in 2011.

The 1995 Pensions Act increased women’s State pension age from 60 to age 66 to make it the same as men. Labour estimates that 2.6 million women will have been affected by the changes to pension law.

At the conference, Abrahams will address those affected:

“Today Labour announces new proposals to end the historic injustice faced by 1950s born women, as promised in our manifesto ‘for the many, not for the few’.”

“We are calling on the Government to immediately allow those affected by state pension age equalisation the chance to retire two years earlier at the age of 64.”

“This will ensure that those who have suffered the consequences of this Government’s chaotic mismanagement of the state pension age have the security they need.”

“We will continue to work with these women to get justice.”

The Labour party have already promised to extend pension credit to to those women affected by the pension law. Abrahams said the scheme would be “cost-neutral in the long term” and will call for a pause in the roll-out of universal credit.

Those on welfare are being transferred to universal credit, which replaces some older benefits, causing “deepening poverty”. She will argue that one in four claims are not paid within six weeks, leading to increased debt and problems paying rent.

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