Changes to State pension age for women

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03 Nov 2015 15:25 by Janfrance Star rating. 1 posts Send private message

A new campaign group has recently formed in the UK called WASPI (Women Against State Pension Inequality Campaign) to "seek fair transitional arrangements for all women born on or after 6th April 1951 who have unfairly borne the burden of the increase to the State Pension Age (SPA). Hundreds of thousands of women have had significant changes imposed on them with a lack of appropriate notification. The 1995 Conservative Government’s Pension Act included plans to increase women’s SPA to 65, the same as men’s. Women Against State Pension Inequality (WASPI), agree with equalisation, but don’t agree with the unfair way the changes were implemented – with little/no personal notice (1995/2011 Pension Acts), faster than promised (2011 Pension Act), and no time to make alternative plans. Retirement plans have been shattered with devastating consequences." 

A crowdfunding exercise raised enough to pay for legal advice and barristers are currently considering potential action. A petition has been signed by more than 21,000 people since the 20th October. Yesterday it was announced that the Parliamentary Select Committee for Work and Pensions will be seeking submissions from women born in the 50's. "The Work and Pensions Committee have launched an inquiry into the new State Pension introduced in April 2016. Concerns have been raised that many of those who will be affected by the changes do not know enough about the changes or exactly what they will mean for their pensions." More details here on the Uk Government - Petitions page. Sorry I am unable to post the llnk at the moment.

I am sure that there are many of you (like me) who are affected by these changes. You may want to consider signing the petition and asking your family and friends to do the same

You can find more information about the campaign and read some of the heartbreaking stories about women who have been left without the money they are entitled to  at the WASPI page on Facebook

Please pass this information to the women you know who were born in the 50's!





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03 Nov 2015 15:51 by Spanishsteve Star rating in Surrey, Eastbourne &.... 81 posts Send private message

Janfrance,

excellent posting, my wife is affected as she was born in the 50's. We have signed the petition and follow WASPI on Twitter. My wife just turned 60 in July but has to wait another 6 years for her pension. Disgraceful state of affairs in that the government changed the goalposts twice, with very little or no notice.





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03 Nov 2015 16:51 by Hephaestus Star rating in The Peak District Na.... 1235 posts Send private message

We are advised to plan for our retirement, but how can we when the government can move the goal posts as and when they wish? I've not heard of any trimming down of certain public sector employees almost written in stone percieved rights to early, enhanced retirement packages, but that's different isn't it?

We are 68 and a half and 69 and a half respectively, and have already recieved over £100K jointly out of the state pensions system, so there is a plus to being a pair of coffin dodgers. wink 



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03 Nov 2015 16:59 by blueeyes Star rating. 64 posts Send private message

I've commented before on this forum on this subject.

Women being required to work until they are 65 was announced in 1995. I was 60 this year. Hence I got 25 years notice. I don't see that as 'little or short notice'.

I am slightly annoyed at the sudden acceleration to 66. But still 10 years notice.

As I understand it, the government has aleady made some concessions to women in the 'staggered' age ranges, so I don't think they'll be budging any further.





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03 Nov 2015 17:12 by GB45 Star rating in Wiltshire and holida.... 130 posts Send private message

Nobody likes the goal posts moved but have to agree with you blueeyes. 25 years seems a reasonable amount of notice to me.





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03 Nov 2015 18:25 by Spanishsteve Star rating in Surrey, Eastbourne &.... 81 posts Send private message

 

The announcements were made in 1995, 20 years ago not 25. There was a general announcement not individual notification and never has been, unfortunately a lot of women who were in their 40's did not pay attention probably because it seemed so far away at the time and let's face it pension legislation is boring enough anyway.It's only when they are reaching 60 they are finding out the age difference.

Some of the women have been hit a second time, in 2011 further increases to their state pension age were brought in faster than the Coalition had promised – again with little or no notice to re-plan for their retirement.

surprisingly enough MPs, Judges & Civil Servants received 10 years’ transitional protection from any rise in their Occupational Pension age.





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03 Nov 2015 18:45 by blueeyes Star rating. 64 posts Send private message

20 years to age 60. 25 years until actual retirement age. A minimum of 20 years to plan how to bridge the gap.

Changes to tax credits has been a general announcement, not individual notification.

 





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03 Nov 2015 19:05 by Spanishsteve Star rating in Surrey, Eastbourne &.... 81 posts Send private message

The difference with tax credits is that not everyone gets them, I never have and don't have a clue what exactly they are or what you get them for, whereas pensions everybody should as long as they don't die before then.

when I started my main career in 1981 as a young 18 year old I signed the forms put in front of me and had 9% of my wages taken out monthly for my pension. Retiring was the last thing on my mind, roll forward 30 years later and I retire at 49 years old with a half decent pension. I didn't 'plan' my retirement at 18, I was fortunate in that I did as I was told at the start of my career.





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03 Nov 2015 19:37 by DuncanMcG Star rating in Manchester, UK. 377 posts Send private message

DuncanMcG´s avatar

Hephaestus said "I've not heard of any trimming down of certain public sector employees almost written in stone percieved rights to early, enhanced retirement packages, but that's different isn't it?"

Actually it isn't. Public sector pensions have been severely hit by austerity measures. Public sector employees are now paying up to 10% of their salaries into their pension funds from a position of up to 3% before austerity kicked in. They also cannot take their pensions at the contractual retirement age of 60 as this has been moved in line with State Pension age. You now have the very real possibility that a public servant paying 10% of their salary into a pension fund might not live to collect any of it. Why bash the public servants anyway? Aren't they just as entitled to pension contributions from their employer as a private sector employee?

I really dislike this public sector bashing. Our nurses, policemen, firemen, civil servants etc are struggling to deliver the services due to huge manpower cuts and at the same time they are seeing their pay and conditions wither away with 0% - 1% pay rises for the past 7 years and another 5 years into the future as well as having their terms and conditions eroded with pension reductions etc. They really don't need to be further beaten up by the general public that they serve.

I am really surprised that anyone wants to work in the public sector any more. The state of the health service and lack of nursing staff will only get worse as this continues.

rant over



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03 Nov 2015 19:47 by Hephaestus Star rating in The Peak District Na.... 1235 posts Send private message

10% less tax relief of up to the highest rate, for what in most cases is a two thirds of final salary inflation linked pension, my heart bleeds for them.

 


This message was last edited by Hephaestus on 03/11/2015.

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03 Nov 2015 20:13 by johnmcmahon Star rating. 317 posts Send private message

not sure what you're saying here, but if you're suggesting public sector workers get a pension 2/3 of their final salary, I'd like to see some evidence of this. It's not my experience or anyone else I know





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03 Nov 2015 20:15 by Roly2 Star rating in Almeria. 648 posts Send private message

Actually, pension contributions  in the public sector can now go up to 15% of pay.    And yes, of course there is, at the moment,   tax relief, but that is available to anyone who contributes into a pension scheme.  And as far as I am aware, most public sector pensions are traditionally 1/80th, which means they can, after 40 years service, translate to half of final salary, linked to annual increase in pay (in the relevant sector - and currently 1%).  Of course, this means your top surgeons in the NHS for example, will retire on something like 70K a year, but the average nurse will be lucky to reach 15K.    

While I do support the pension reforms that have been going on (career averaging for example), I too cannot understand the bitterness against the public sector.        

 





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03 Nov 2015 20:21 by Hephaestus Star rating in The Peak District Na.... 1235 posts Send private message

If you do the full shift, this includes early retirement enhancements, then it's two thirds, all the teachers, police officers, and fire fighters (my wife's father and uncle were both firemen) that I know get this, who are the ones that you know, and what did they get? 



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03 Nov 2015 20:29 by Hephaestus Star rating in The Peak District Na.... 1235 posts Send private message

Roly,

Does your calculation include the one and a half x final salary tax free lump sum?

No bitterness, just facts, 


This message was last edited by Hephaestus on 03/11/2015.

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03 Nov 2015 20:44 by DuncanMcG Star rating in Manchester, UK. 377 posts Send private message

DuncanMcG´s avatar

Maybe facts the way they used to be, but certainly not any more which was the jist of my post.

I have gone from the private sector to the public sector and back to the private sector. The pensions were no different. I had a 1/60 x final salary x years service with the banking industry similar with the civil service. Lump sums could be taken from both but would reduce the pension. These pensions no longer exist in either the private or public sector. Everyone is being moved onto fund based pension arrangements.

My wife, after 30+ years in the NHS will get 1/80 x final salary x years service. As a senior matron she will not get any where near £20k pension much nearer rolys estimate for the average nurse. She has now left the NHS to go to private health sector as a lot of British nurses have. I hope you and your good wife don't have need of the NHS hephaestus. It is certainly not what it used to be either.


This message was last edited by DuncanMcG on 03/11/2015.

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03 Nov 2015 21:47 by Spanishsteve Star rating in Surrey, Eastbourne &.... 81 posts Send private message

The police have at least 2  pension schemes dependant on when you joined. Officers joining up to 1987 it was a 2/3rds final salary scheme, they are currently paying approx £400 per month pension contributions. There is no pension fund and never has been, serving officers pay in and the money is immediately paid out to retirees on the respective pension days. If you take a lump sum, it reduces the pension taken each month. It's not 1x1/2 times final salary, it's more. If you take the full sum you do pay tax on the amount over £136k.

after 1987 it went to a 1/2 final salary after 35 years still paying in 15% of the salary. I believe the latest 2015 pension scheme is even worse in comparison.

if as a police officer you drop yourself seriously in the sh*t you can have your pension reduced or totally taken away from you, I don't know of any other job this can happen to.

so called gold plated pensions have always stirred emotions but pensions are part of pay and conditions and something which most people take into account when they start a job.

 





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03 Nov 2015 22:19 by johnmcmahon Star rating. 317 posts Send private message

Im a retired teacher so that's how I know what I'm talking about





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03 Nov 2015 22:24 by Roly2 Star rating in Almeria. 648 posts Send private message

I don't know about the police, but I know that all NHS workers, all educationalists, and all local gov workers get 3 times the final pension, certainly NOT one and a half times the full salary!!   So said nurse would, if she or he chose to do so, be able to take 45K as a lump sum.  

And what early  retirement enhancements??    I don't know  anyone one in the public sector  who has two thirds pension.  I know mainly NHS consultants, educationalists and administrators - so not emergency services.       

 


This message was last edited by Roly2 on 03/11/2015.



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03 Nov 2015 23:09 by blueeyes Star rating. 64 posts Send private message

I know I have posted in thread.

But I'm struggling to see the relevance this thread has to Spain?

 





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04 Nov 2015 08:43 by Hephaestus Star rating in The Peak District Na.... 1235 posts Send private message

Duncan, I have an appointment with out patient rheumatology this afternoon at a local teaching hospital, I find the treatment and care given by the staff to be excellent. However I still maintain that the Pensions Club members (look it up before you start pontificating), are taking the michael by taking early, enhanced retirement packages when there is nothing wrong with them. I never advocated burning all public sector workers at the stake, neither did I see the relevance in you comparing the price of duplexes with those of apartments on a previous thread. wink   



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